A United Nations committee, after six months work, on Tuesday, unanimously adopted a historic report that establishes nine principles for restructuring sovereign debt, the committee's chair Sacha Llorenti of Bolivia told reporters.
Nobel Prize-winning economist Joseph Stiglitz has reiterated his support for a wider system of control on international sovereign debt restructuring, citing the examples of Argentina, Greece and Ukraine to back up his assertion that the area needs more supervision to protect those involved.
In an interview with Argentina’s daily 'Ambito Financiero', Nobel Economics laureate Joseph Stiglitz considered the Argentine government’s move to reopen the debt swap and replace the Bank of New York Mellon with local Banco Nacion as trustee a “good call” saying the reopening would not be mandatory, “voluntarily” inviting bondholders to join the strategy.
The following article by Peter Eavis and Alexandra Stevenson was published in The New York Times and addresses the current litigation between Argentina and the speculative funds. The hedge fund firm of billionaire Paul E. Singer has about 300 employees, yet it has managed to force Argentina, a nation of 41 million people, into a position where it now has to contemplate a humbling surrender.
The following piece published in The New York Times was written by Joseph E. Stiglitz, winner of the Nobel Prize in Economics and a former chief economist of the World Bank, and currently a professor at Columbia University.
The US Supreme Court has confirmed that Brazil, Mexico and France have officially presented their opinions on an appeal currently being studied in the judicial authorities, which relates to the litigation held against Argentina by the hedge funds which the administration President Cristina Fernandez refers to as 'vulture funds'.
The commodities-exporting economies of Latin America will continue expanding in the years ahead, driven by demand from China despite slower growth in its economy, Nobel Prize-winning economist Joseph Stiglitz said during a conference round in Uruguay.
The plan to lend money to Spain to heal some of its banks may not work because the government and the country's lenders will in effect be propping each other up, Nobel Prize-winning economist Joseph Stiglitz said.
Inflation and production diversification must be the top priorities of emerging economies such as Argentina warned Nobel Prize Joseph Stiglitz during an IMF sponsored forum on “Macro and growth policies at the wake of the crisis” which took place in Washington and convened top line economists and decision makers.
The policies of extremely low interest rates maintained by the Federal Reserve and the European Central Bank are plunging the world into chaos instead of helping with the recovery of the global economy, the winner of the Nobel Prize in economics, Joseph Stiglitz, said on Tuesday.