Category: Argentina

One of the most remarkable features of Argentina’s debt debacle is the government’s attempt to shift the burden of adjustment away from the domestic economy, transferring wealth from creditors to debtors, and from future generations to current ones. Guillermo Mondino says the long-term consequences of such a strategy are serious and warns other countries to take heed.

Raising money for Latin American banks in 2002 required a good dose of skill and imagination. International banks, stuck with heavy losses in Argentina and fearful of more trouble in […]

Last year, the late Rudiger Dornbusch said outside intervention was needed to save Argentina and suggested an international commissioner be appointed to run the country’s finances. This January, Guillermo Calvo, […]

Argentina’s financial crisis has affected the region’s
markets far more deeply than many expected. It has changed the way investors and banks approach risk in Latin America.

IntesaBci Cedes Control of Argentine Subsidiary IntesaBci, Italy’s largest bank, is spending $150 million to recapitalize its Argentine unit and then cede control of it in a merger with Banco […]

Blejer Leaves Argentina Mario Blejer, Argentina’s former central bank president, is the new director of the Centre for Central Banking Studies (CCBS) at the Bank of England. He will also […]

After jumping through legal hoops, the Argentine oil company Tecpetrol successfully restructured $230 million in bank loans. Securitized revenues made the new debt palatable to creditors and the government.

So far, Uruguay has fended off a collapse of its banking system, which has been rocked by fallout from Argentina’s
financial crisis. Despite a $3.8 billion multilateral aid package,the outlook remains grim.

Italian retail investor’s love affair with Argentine bonds ended abruptly when the sovereign left its creditors in the lurch. Angry Italians want someone to compensate them for their losses.

This would seem a good time for shrewd investors to go rummaging for deals in Argentina’s corporate bargain basement, but risk still outweighs the promise of reward for all but the most audacious buyers.