With bond buyback Argentina raises fears of another economic collapse
Dry winds are all over the Pampas once again! And interestingly it’s the same that swept away most of it in 2001. Remember the $95 billion default (largest by any country) by the Argentinean government on its bonds that led to the devastating financial collapse! The reminiscences of it still sends shivers down the spines of many! Well, the same doubts are growing over Argentina’s creditworthiness, yet again!
Though the Argentinean government is already into its third week of a debt buyback programme (has bought back $430 million worth of its 2008 and 2009 bonds) to bolster investor confidence, but it hasn’t been of much help. “Bond buyback by government has boosted some investors’ confidence. But still a lot more needs to be done to restore Argentina’s lost credibility,” P. B. Henry, Professor at Stanford University and an expert of Argentinean issues tells B&E. Certainly at 50% (an estimated $140 billion) of GDP (market exchange rate), Argentina’s public debt is still large.
Dry winds are all over the Pampas once again! And interestingly it’s the same that swept away most of it in 2001. Remember the $95 billion default (largest by any country) by the Argentinean government on its bonds that led to the devastating financial collapse! The reminiscences of it still sends shivers down the spines of many! Well, the same doubts are growing over Argentina’s creditworthiness, yet again!
Though the Argentinean government is already into its third week of a debt buyback programme (has bought back $430 million worth of its 2008 and 2009 bonds) to bolster investor confidence, but it hasn’t been of much help. “Bond buyback by government has boosted some investors’ confidence. But still a lot more needs to be done to restore Argentina’s lost credibility,” P. B. Henry, Professor at Stanford University and an expert of Argentinean issues tells B&E. Certainly at 50% (an estimated $140 billion) of GDP (market exchange rate), Argentina’s public debt is still large.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
