MercoPress. South Atlantic News Agency
Argentina prepared to comply with World Bank arbitration and pay corporations with bonds
Argentina will offer 500 million dollars in sovereign bonds to resolve disputes with corporations at a World Bank arbitration panel, a financial daily newspaper reported on Thursday. Read full article
Comments
Disclaimer & comment rulesARG bonds? So…an IOU…in dollars…which the government will pay. Fair enough if they accept it but I would probably want the cash upfront. Most people do. I tried this with one of my parking tickets and, unfortunately, the delightful chaps in the council offices for Kensington and Chelsea wouldn’t accept a bond from the Bank of WW and the Bank of WW has never defaulted on its payment obligations…
Oct 11th, 2013 - 08:49 am - Link - Report abuse 0My word is my bond ,would apply in some case's..........but not this one :-)
Oct 11th, 2013 - 11:26 am - Link - Report abuse 0This is an interesting proposition. Arg is desperate for loans from WB IDB and they can't get them until the ICSID judgements are satisfied. Bonds are not cash. RG bonds are especially worthless.
Oct 11th, 2013 - 11:55 am - Link - Report abuse 0I wonder who will take them in lieu of cash?
My guess is not too many
All this shows is what I have been saying for years,
In the end Argentina will pay what it owes
Blink
I'd ask for security.
Oct 11th, 2013 - 12:18 pm - Link - Report abuse 0Argentina has a long list of things it could offer
1) Its oil and gas reserves
Um. That's it
They are a cross between imbecile and idiots. WHo in their right mind would take debt in lieu of cash from a country that defaults (does not pay) on it's own debt? Other imbeciles and idiots? Dumb and dumber?
Oct 11th, 2013 - 03:17 pm - Link - Report abuse 0I think TMBOA is attempting the World Record for imbecility if she thinks this will fly.
Oct 11th, 2013 - 04:06 pm - Link - Report abuse 0Pigs have a better chance.
@3 “All this shows is what I have been saying for years,
Oct 11th, 2013 - 04:46 pm - Link - Report abuse 0In the end Argentina will pay what it owes ”
How will we pay when we don´t have any money? All of it has been spent or stolen. I doubt they´ll take the cash our politicians have in fiscal heavens, even then it won´t cover interest.
7. My guess IMF loans after CFK is gone.
Oct 11th, 2013 - 04:50 pm - Link - Report abuse 0“ It would become more difficult for cash-strapped countries to restructure their debts in future ”
Oct 11th, 2013 - 04:56 pm - Link - Report abuse 0What sort of statement is that? If X borrows y amount and restructures it , it makes it more difficult for Z who borrows K amount to restructure it . I may be a bit silly but why would you lend in the first place? I sily me thought that the idea was to pay it back with interest, please feel free to correct me if I am wrong.
WorldBank & IMF have enough money to talk at media ??!!
Oct 11th, 2013 - 06:45 pm - Link - Report abuse 0¿Gato por liebre?
Oct 11th, 2013 - 06:46 pm - Link - Report abuse 0”They are a cross between imbecile and idiots. WHo in their right mind would take debt in lieu of cash from a country that defaults (does not pay) on it's own debt? Other imbeciles and idiots? Dumb and dumber?”
Oct 12th, 2013 - 08:29 am - Link - Report abuse 0The same ones that buys US bonds. OR did you really think that the US debt is heading towards anything else but a default, Poppy?
Raised the debt roof yet?
What are the other options again, you say?
Argentine bonds are as solid an investment as US bonds?
Oct 12th, 2013 - 08:52 am - Link - Report abuse 0Yeah sure, the moon is made of green cheese and the tooth fairy really exists!
Jjust respond the two last questions.
Oct 12th, 2013 - 08:54 am - Link - Report abuse 0Not to me though, I already know the answer...
;)
The companies are expecting face value for their debt. Rg bonds under Rg law are worth U$0.66.
Oct 12th, 2013 - 11:41 am - Link - Report abuse 0Which means they have to issue quite a bit more than the current debt + interest and penalties.
The Ks stupidity is costing the next 2 generations their wealth.
A “won” decade for 50 yrs of misery.
Not a good bargain.
“”“The same ones that buys US bonds. OR did you really think that the US debt is heading towards anything else but a default, Poppy?
Oct 12th, 2013 - 11:47 am - Link - Report abuse 0Raised the debt roof yet?
What are the other options again, you say?”“””
QFT
The truth is that there are plenty of idiots out there who will take bonds from Argentina,,, and Argentina (rather, its government) will laugh al the way to their private Swiss bank accounts.
stevie does your husband keep you barefoot and cooking?
Oct 12th, 2013 - 01:08 pm - Link - Report abuse 0I would never say and never have said the USA is without it's financial woes. HOWEVER.........the USA will not say:
“we determined in order to be financially sound, we decided to only pay back 26 cents of everything we owe to everybody”
Have you seen the USA give an Argentine haircut? Have you? So, as the USA continues it's financial problems, they are not pissing on the bond holders and telling them it's only rain. Funny thing miss stevie, Argentina fucked ALL it's bondholder's and outright denied some of it's bondholders, yet......10 years later they are still in financial mess. I get you hate the USA, but it's hardly a hair pull on my ass. But considering the problems in my country, I did not bail on it and run to another country I perceived to be better. Or was it that guerrilla link of your parents?
I was more interested in an answer for those two questions rather than a desperate apologistic rant...
Oct 12th, 2013 - 05:42 pm - Link - Report abuse 0Comment removed by the editor.
Oct 12th, 2013 - 11:08 pm - Link - Report abuse 0Dany Berger?
Oct 13th, 2013 - 06:45 am - Link - Report abuse 0Poppy?
Login fail?
Matters little...
What does matter, is your answers.
1) They haven't raised the debt roof (not ceiling, that one was rocketed some years ago).
Well, they will. Wanna bet? ;)
2) You don't know. Don't worry Poppy/Berger/whomever you are.
You aren't the only one not to know, your bosses/leaders/pack/whomever they are don't have a friggin clue either.
Good luck.
Not me nimr0d....my term of endearment your you and the likes is lice and nits. However........sweet retort.
Oct 13th, 2013 - 03:08 pm - Link - Report abuse 0And how your your nits doing? Have they frown into lice as yet?
One simple question of the here and now.......
What is the international trade currency?
Do you think I doubt they will raise it? Is that lice thinking guzz?
What country do you live in anyway? Certainly nowhere in south america.......the land of dictators. I truly feel sorrow for your kids, assuming you were allowed to bred.
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!