Argentina, consumed by excessive borrowing and spending, has discredited itself with investors. Despite another bond swap, only a full rehabilitation of the sovereign’s messy finances can save the country.
Category: 2001
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Passing on Plain Vanilla
Emerging market bond investors are demanding the extra security that asset-backed deals provide. Even Latin America’s strongest companies are dusting off the structured financings that saw them through previous crises.
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Santander’s Next Move
The Spanish giant has spent billions of dollars acquiring Latin American assets. But with the stakes so high and global recession to boot, investors are wondering if BSCH’s strategy will pay off.
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Suing Argentina
Now that the end is in sight for Argentina’s agonizing debt crisis, it is time the world financial system think more seriously about two important issues related to the country’s […]
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Tailor-Made Regulation
Virtual organizations can help solve the real problem of bank failures. Canada’s Deposit Insurance Corporation operates as a flexible, multi-tier virtual organization that is scalable to the asset balances under its management.
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Where is the Reality Check?
The crisis in Argentina dramatically demonstrates how little the international financial community has learned from the string of crises that have erupted in the emerging markets over the last few years. And there is little sign that Latin America’s latest debt crisis will make a difference.
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A Competitive Coupon for PDVSA
The Venezuelan national oil company’s oil-backed bond, with a healthy overcollateralization, garnered investment grade ratings and a 100 basis points price advantage over similar sovereign bonds.
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Adding an Edge to Peru
Mirko Stiglich, a young banker with skills honed in the international markets, has returned home to revive Peru’s catatonic capital markets and help integrate the country into the world’s financial system.
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Business & Banking
Argentina Clears YPF-Petrobras Swap Argentina’s antitrust regulator approved in mid-November the long-delayed $1 billion swap of refining, retail and other assets between Spanish-owned Repsol-YPF and Brazil’s national oil company Petrobras. […]