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...The case sent a shiver of fear through the sovereign debt world, given how it could potentially wreck any country’s attempts to extricate itself from a debt crisis....
...The extra debt is designed to smooth the costs of Project Everest across more than one financial year....
...investors and distressed debt investors with a record of co-operating with sovereign debt restructurings....
...Poorer countries tend to rely on a mixture of growth and inflation to squash their government debt-to-GDP ratios....
...“The structural problems we have are very difficult to discuss in a political campaign,” said Domingo Latorraca, a consultant and former vice-minister of the economy....
...So — if we’ve got the details correctly and done the maths right — annual interest payments of $132.5mn on ca $900mn of debt, for a country already in financial stress....
...“There is a very condescending way that the global north looks at the global south, whether it’s Africa or Latin America, and sees a lot of corruption,” she insisted....
...Intrigued, I turned to Google, and learnt this practice — dubbed “returnless refunds” by analysts — was being employed by some of America’s largest retailers, including Amazon and Walmart, as well as a host...
...When questioned about his views on Trump, the IT consultant, a middle-aged man in a black shirt and gold tie said: “I find him fascinating and mysterious....
...that investors may have to take on the debt....
...Creditors have been hoping that a forthcoming auction of shares in Citgo, a PDVSA-owned refiner in the US, will help pay off some of the oil company’s defaulted debt....
...Chapter 11 of the US bankruptcy code is a case in point. “Yet there is no comparable mechanism for the debts of sovereigns,” they continue....
...Such activity is a sign that a new era of high borrowing costs is starting to bite in corporate America, whose overall borrowings now total $13tn according to Federal Reserve data....
...Pemex, once a major cash cow for Mexico’s government, now has the highest level of debt of any oil company due to years of under-investment, corruption and lack of reforms....
...Judes Jonathas, a former humanitarian worker and Haitian consultant, said the installation of the council would be fraught with risk....
...In the three decades after the war, the growth rate of national output also exceeded the interest rate on government debt for most of the time. Result: phenomenal debt shrinkage....
...The bill combines two of three bills that were proposed last year but never voted on to rewrite the rules of restructuring sovereign debt under New York law....
...São Paulo faces the collapse of its electrical grid following years of under-investment, officials have warned, as widespread blackouts disrupt activity in the largest city in the Americas....
...By contrast the premium paid by American borrowers to issue new debt over the equivalent Treasury yield is also hovering around a two-year low — but its decline has been steadier, down just 0.07 percentage...
...The debt swap was a big step forward in Caputo’s overarching strategy, said Salvador Vitelli, head of research at the Romano Group consultancy....
...The government reduced its debt from 144 percent of GDP at the end of 2012 to 72 percent in 2023.3 Jamaica cut its debt ratio in half despite averaging annual real growth of only ¾ percent over the period...
...“It’s a modus operandi, we’re seeing it very openly because of the Salinas Pliego issue, but it’s been constant,” said Carlos Ramírez, a consultant at Integralia Consultores....
...Remember, measuring total outstanding debt against GDP is a little weird, because it’s comparing a stock (debt) to a flow (GDP). If we do, though, total debt is more than 120 per cent of GDP....
...In the US, political consultants are supposed to scrutinise congressional spending bills. But transparency is rare....
...Republicans, led by House Speaker Mike Johnson, condemned the budget as “a road map to accelerate America’s decline”....
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