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Economy chief Luis Caputo spent the better part of his first televised address explaining how Argentina got into such a dire economic situation: an “addiction” to debt, for which the only medicine is a shock treatment. “There is no more money,” Caputo said repeatedly in the recorded video published Tuesday…
(Bloomberg) -- Argentina investors cheered libertarian economist Javier Milei’s bigger-than-expected win in Sunday’s presidential vote and his pledges to usher in a radical remake of South America’s second-largest economy.Most Read from BloombergThe Doomed Mission Behind Sam Altman's Shock Ouster From OpenAIOpenAI Leaders' Efforts to Bring Back Altman Reach Impasse Over Board RoleOpenAI Taps ex-Twitch CEO to Lead as Altman Joins MicrosoftOpenAI’s Murati Aims to Re-Hire Altman, Brockman After Exi
And investors are happy.
(Bloomberg) -- Angst is spreading among holders of Argentina’s $65 billion in sovereign bonds ahead of Sunday’s presidential election, with nearly every scenario pointing to further investment losses.Most Read from BloombergRinggit Falls to 25-Year Low, the Worst Performer in Asia After Yen This YearTesla Tempers Growth Expectations as Musk Sees Storm AheadWhere Does Israel Get Its 220,000 Barrels of Oil Every Day?Trump Is Winning Over Swing-State Voters Wary of Biden’s Economic PlanStocks Drop,
(Bloomberg) -- From almost the moment Argentina restructured $65 billion of debt three years ago, investors have been betting the next default was around the corner. This week, they got a better idea of who their negotiating partner will be when it comes, and they’re not at all encouraged.Most Read from BloombergHollywood Studios Offer Writers a New Deal With Push From Netflix, Iger to End StrikeTycoon’s Fortune Soars $39 Billion on Eyebrow-Raising SPACRussia Calls Emergency Key Rate Meeting as