Mercado Libre Announces Closing of Inaugural Debt Offering – Padovanews padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.
Jan 3, 2021
Buenos Aires – The COVID-19 pandemic will undoubtedly be remembered as one of the most difficult episodes in the history of modern capitalism. But it is difficult for different countries in different ways, which is reflected in the policies their governments have adopted. And nowhere are the difficulties greater than in highly indebted countries.
In Argentina, the pandemic hit at a time when the country had no access to credit. In that context, we initiated and finalized a sovereign-debt restructuring that has for the first time tested the collective-action clauses (CACs) that became the new market standard in 2014.
Back in 2016, Argentina had finally recovered access to international credit markets after a long legal battle with the “vulture funds” bondholders who swoop in to buy distressed debt, hold out in the ensuing restructuring process, and then litigate to get better treatment than the restructured bondholders did. By highlighting the failu
Argentina’s woes of high debt, disease
Photo: Getty Images
Martín Guzmán
As matters stand, the pandemic will likely leave several other countries with distressed debt that will have to be resolved to secure an economic recovery
But many of these countries will lack the Argentine government’s capacity to ensure a level playing field for negotiations, given that its 2020 restructuring benefited from support from influential players
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The covid-19 pandemic will undoubtedly be remembered as one of the most difficult episodes in the history of modern capitalism. But it is difficult for different countries in different ways, which is reflected in the policies their governments have adopted. And nowhere are the difficulties greater than in highly indebted countries.
T&T Securities and Exchange Commission
The first question you may be asking yourself is, âWhat is repo or a repurchase agreement? It sounds similar to taking out hire purchase.â Actually, they are quite dissimilar in nature. Repurchase agreements are referred to as repos or buy/sell backs. In such agreements, according to the International Capital Markets Association, one party (âthe sellerâ) sells an asset (usually fixed-income securities, which are investments which pay investors fixed interest or dividend payments until its maturity date when the invested amount is repaid to the investor) to another party (âthe buyerâ) at one price.