Word: argentinas
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Economic optimists note also that although Israel may have the world's highest per capita foreign debt ($5,350, compared with $1,540 for Argentina), only $5.6 billion of the $22.5 billion total has been borrowed from commercial banks. The remainder is owed to more forgiving lenders: the U.S. and Jewish benefactors around the world...
Even as Grinspun arrived in New York early in the week, U.S. bankers made Argentina's troubles worse by raising the prime interest rate from 12.5% to 13%. The move was brought on by the higher borrowing costs that banks are paying in the U.S., but among the main victims were foreign debtors. At least half of all credit to Latin America is tied to the prime rate, and every percentage point rise adds $1.2 billion annually to the debtors' burden. Said Raymond Dalio of Bridgewater Associates, a Connecticut-based economic consultant: "The timing in the political sense...
...Argentina, however, had little choice but to make a deal with the bankers. All the alternatives carried too high a price. One would have called for a 90-day moratorium on Argentina's debts, coupled with promises to meet the country's obligations eventually. That might have made the Alfonsin government more popular with Argentines, who like to see their President standing up to the Yankee banks. But a moratorium would have put Argentina into an even higher risk category for future loans, which would have crippled the country's ability to pay for necessary imports...
Last week's action was almost a replay of the one at the end of the March quarter, when Argentina faced another deadline on paying interest. At that time, four Latin American countries lent Argentina $300 million and commercial banks supplied an additional $100 million. Argentina has now been granted a postponement to the end of this month to pay back the $300 million and to Oct. 1 for the rest...
...Port Stanley; sheep jokes abound. In the end, as at the beginning, no one really knows anything about the Falkland Islands other than the war that gave it momentary celebrity-nothing about the people in the aftermath of the war, their concerns, isolation, or their true relationship to Argentina and Britain. Discontinuities are valuable because they point up the world's variety as well as the special force of its isolated parts. But to rely on them for truth is to lose one's grip on what is continuous and whole...