MercoPress. South Atlantic News Agency
Barcena anticipates that Argentina will probably have negative growth in 2014
Argentina's economy probably will contract in 2014, the head of the United Nation's body for Latin America and the Caribbean, ECLAC said on Monday, as fallout from a new sovereign debt crisis will keep the country out of money markets. Read full article
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Disclaimer & comment rulesNo effect hey?
Aug 05th, 2014 - 07:34 am - Link - Report abuse 0LOL
YPF and many other companies and Provinces pulled their U$ bond floats because of the default.
Aug 05th, 2014 - 10:24 am - Link - Report abuse 0So not only will nobody invest in YPF they are going to have a severe cash flow problem in short order.
Just like BCRA and all the provinces.
They can only paper over the deficit by printing pesos for so long.
Inflation will just dramatically towards the end of the year even with the huge slowdown in GDP.
If they choose to stay in default most estimate a 3-5% decrease in GDP.
I really wonder what the real GDP number is..well any stat for that matter.
The only reason Argentina is in a better position today is because it decided to refuse to repay 72% of it's debt.
Aug 05th, 2014 - 11:16 am - Link - Report abuse 0”You think there's going to be appetite to negotiate sovereign debt after this?“
Aug 05th, 2014 - 12:33 pm - Link - Report abuse 0No, and why should creditors negotiate and not be paid back?
Ms. Barcena, “They won't loan any more cheap money if it is easier to default on it” Do you understand Ms. “Oh so enlightened” UN bureaucrat“?
This one Barcena is just another corrupt, bureaucrat, leftist who sincerely believes they have a legitimate say over other people's money.
Maybe this event will encourage nations to borrow money only as a viable investment that will be able to pay itself back. That would be a very good thing for advancing civilization.
If so, those corrupt third world countries might actually exhibit a bit of real growth for a change. And those ”oh so poor“ people might actually become less poor for a change.
This would be a very good thing for advancing civilization.
Again, what is happening here with the holdouts is good for the world, and here is a leftist saying the opposite, ”Oh for sure that is bad for the world“. But it is their ideas that screw up the world and they present them as such noble and enlightened ideas.
Such as the idea that Barcena is promoting. ”It should be made easier for countries who mismanaged their loans to not pay them back”.
Regardless of whether Singer is a bajillionaire or not, he is doing the developing world a favor.
And the brilliant Barcena, who takes and cashes a regular paycheck from the UN to help those same people, is actually only hurting them. So she is a thief for taking money to do a job, and not doing that job.
Leftists aren't really about helping the poor, or justice for the poor, they are about job security.
You can see why this woman is the head of the United Nation's body for Latin America and the Caribbean, ECLAC, she meets the most important criteria for the job: she hasn't got a fucking clue what she is on about but it doesn't stop her yapping.
Aug 05th, 2014 - 10:46 pm - Link - Report abuse 0Barcena is a biologist. I presume an economist runs the Biological Commission for Latin America and the Caribbean.
Aug 06th, 2014 - 06:44 am - Link - Report abuse 0Commenting for this story is now closed.
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