TimeRider

Argentina: With a history of multiple defaults, including in 2001, 2014, and 2020, Argentina faces debt maturities exceeding $14 billion in 2025, with insufficient reserves to meet these obligations.

Bolivia: Bolivia's economic outlook is deteriorating, with a rapidly depleting foreign exchange reserves and persistent fiscal deficits

While Bolivia has not defaulted since the 1980s, its deteriorating economic situation and dwindling reserves raise concerns about its ability to service external debt.

The country's bond yields are at or near record highs, reflecting increasing investor concern about Bolivia's economic outlook.

Ecuador: With a high external debt at about 55% of GDP at the end of 2023, Ecuador's economic and political instability, combined with its dependence on oil revenues, make it susceptible to defaulting on its external debt obligations. 

Same rational. Lowering with passage of time.