Tag: debt
debtCristina Fernandez says Argentine is back in the world stage with ‘a bang’
President Cristina Fernández de Kirchner said that the restructuring of Argentina’s debt allowed the resumption of relations with Italy, and in human rights, art and culture Argentina was back in the world map with ‘a bang’.
Greece warned it must redouble efforts otherwise (but following step is not clear)
The IMF warned Greece it must redouble reform efforts to avoid derailing its fiscal program, key to dealing with a huge debt mountain.The sternest IMF warning since a 110 billion Euro EU/IMF bailout a year ago pulled the troubled Euro zone member back from the brink of bankruptcy was delivered as European officials raised the possibility of a Greek debt restructuring.
“Argentina has not learnt the 2001 lesson, nor have many investors the 2008 crisis”
“There is no evidence that Argentina has learnt the lesson from the 2001 crisis”, said Carmen Reinhart one of the most influential US economists and an expert in Latin America, who has worked for the IMF, in Wall Street and teaches at the University of Maryland.
Argentine Treasury appeals to government banks to pay debts
Argentina's Treasury will borrow 8.40 billion pesos (2.02 billion US dollars) from state-run Banco Nacion this year to refinance some of its debt with the bank, a top official told state news agency Telam on Wednesday.
A fatiguing marathon ahead for debt strained Euro zone countries, says ECB
European Central Bank policymaker Axel Weber said that debt-strained Euro zone countries must make the most of the breathing space bought by aid measures and warned them the hardest part of the reform process was still ahead.
Fitch upgrades Uruguay’s debt to BB, just below investment grade
Citing the “increased resilience to external shocks” Fitch upgraded Uruguay to BB from BB-, two levels below investment-grade and in line with Standard & Poor's. Moody's Investors Service rates Uruguay at Ba3, three levels below investment grade. Fitch last increased the country's rating in July 2007, taking it up one level from B+.
IMF Warns Developed Countries on “Urgent” Need to Cut Budget Deficits
The International Monetary Fund has warned developed nations they face an “urgent” need to cut their budget deficits. Its warning comes as a slew of European countries face public unrest over their attempts to do just that.
Portugal Joins Euro Belt-Tightening Bandwagon but with Strong Political Support
Portugal has become the latest country to introduce austerity measures, after both Greece and Spain took similar steps to stabilize public finances in the face of massive debt.
Mrs. Kirchner Promises to Refinance Provincial Government Debts
The Argentine government said it will refinance 89% of the debt that most of the country’s provinces hold with the federal government, announced President Cristina Fernandez de Kirchner and Economy Minister Amado Boudou.
Italian Defaulted Bond Holders Seem Prepared to Accept Argentine Debt-Swap Plan
In an extensive report, the Task Force Argentina (TFA)—which represents Italians holding some 4.5 billion US dollars in defaulted Argentine sovereign bonds—gave an ambiguous declaration over Argentina's debt-swap plan.
