Long term dollars over pesos. Billions and billions due over the next year and the government still can't accumulate much reserves. They already have austerity measures in place and not much more they can cut. In fact probably have to start spending more. Only so much you can borrow. Actually thought thought the peso would strengthen more and it seems like it's weakening throughout the day.
It's Argentina so next week it could be back above 1500. Anyones guess.