MercoPress. South Atlantic News Agency
Argentine central bank confirms no restrictions for governments to purchase dollars
The Argentine central bank confirmed on Wednesday that there is no money exchange restrictions for the federal government or provinces to purchase US dollars to honour public debt issued offshore. Read full article
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Disclaimer & comment rulesSo, if there is no issue then this is a policy decision rather “dollar clamp” issue. As such, can we expect more interest and capital payments to be pesified. It seems to be that this will probabbly be the case.
Oct 11th, 2012 - 09:31 am - Link - Report abuse 0“All of the bonds under national regulation should be paid in pesos, as marked by the Central Bank rules,”
This is fine and I am behind it, however, I expect that the bonds will have to be peso bonds, not dollar. Given inflation, this will make no sense to those issuing the bonds or those buying them. I don't think they have understood that people will not buy US$ denominated bonds if they are going to be paid back in pesos...
If you pesify the economy that is your choice, however, there will be economic consequences.
Read her Botox induced lips “There is no dollar clamp”
Oct 11th, 2012 - 10:08 am - Link - Report abuse 0Of course all is fine and dandy in the Land of Oz at Emerald city:
Oct 11th, 2012 - 12:07 pm - Link - Report abuse 0http://blogs.ft.com/beyond-brics/2012/10/09/argentine-bonds-fall-on-selective-default/#axzz28zWzZ235
I'm guessing if the Provinces or State has to issues Peso denominated bonds the interest rate they would need to offer needs to be above inflation rate and expected peso depreciation...what's that 100%, 500%? Who knows!
Oct 11th, 2012 - 12:19 pm - Link - Report abuse 0I told you months ago this was going to be fun to watch!
I pity the grown-ups that are going to have to come in afterwards and clear up the mess. With CFK and co (if not in jail) sitting on the sidelines making comments such as “well we didn't have these problems when we were in government” and being so mind numbingly arrogant/stupid to believe themselves.
Oct 11th, 2012 - 12:50 pm - Link - Report abuse 0@5 yup, they will blindly ignore that fact the they are reason the shit hit the fan in the first place.
Oct 11th, 2012 - 01:04 pm - Link - Report abuse 0Someone there needs to stand up and end this chaos there.
Oct 11th, 2012 - 03:33 pm - Link - Report abuse 0More faggot (argie) lies!
Oct 11th, 2012 - 03:47 pm - Link - Report abuse 0Now that asslips avoided a coup.....for now, Seems another protest/strike is about to begin.....bus drivers. Man O man, does it never end there? Children taking over schools....CTA demanding better wages and calling for a national strike....uniform services work stoppages because they cut 70% wages, grabage collectors went on strike, asslips expropriates an oil company and runs it into the ground for lack of investment funds, debt collectors takes possession of a naval training vessel, bond prices plunge becuase chaco defualted by paying international bonds in pesos......where does it end! With a rope around her ankles hanging our the balconey of La Casa Rosa. Everything that asslips touched she has turned to trash. Her ego is the “Death of a Nation”
Oct 11th, 2012 - 07:28 pm - Link - Report abuse 0rolfjkoch.blogspot.com/2012/10/argentine-bond-prices-plunge-again-on.html
#5 Cristina and her supporters will never be sitting on the sidelines, they will ever be providing government of the people, for the people, by the people, or else fighting tooth and nail with any usurpers who try to disenfranchise the people and throw the continent back into another neoliberal dark age
Oct 18th, 2012 - 08:15 pm - Link - Report abuse 0yawn.....from someone of experience right bk
Oct 18th, 2012 - 11:39 pm - Link - Report abuse 0Commenting for this story is now closed.
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