Argentina has defaulted on its debt three times in the last 32 years, most recently last month, making it somewhat of an expert on the subject.
After failing to satisfy a judgment ordering the country to pay $1.3 billion to American hedge funds, closing it out of international credit markets, the hashtag “Argentina vs. the Vultures” no longer makes its citizens anxious. They see it as business as usual.
Argentina is disputing the ruling, by Judge Thomas P. Griesa of New York, which forbids the country to pay the restructured debt from 2002 without paying the investment funds that have held out for full payment.… Seguir leyendo »
After a decade in the public eye, Cristina Fernández de Kirchner has started to fade in her starring role as Argentina’s diva. With her party’s loss of key districts in the midterm Congressional elections, her dream of re-election in 2015 for a third term as president — “Eternal Cristina,” as her acolytes say — comes to an end. But she will not go away without putting up a fight.
After her party, the Front for Victory, performed poorly in the primary elections in August, Ms. Kirchner set about to recapture the public imagination, though her administration was flooded with bad news: inflation is unofficially at 20 percent to 25 percent, public debt is swelling while central bank reserves are falling, and a growing discontent has created factions inside the party, which until now had behaved under the whip of “la Señora.”
Ms.… Seguir leyendo »