The reasons for US court involvement are several and complicated. They include but are not limited to the fact that the bonds were funded out of NY. As to the holdouts, they had the choice of settle or holdout and they… I pass no judgement on the morality/spirit of their actions, but as I understand it they are adhering to the letter of the law, and Argentina is scrambling to work around the law.
Here’s a better more precise explanation for the involvement of US courts than my previous attempt above.
And they’re back…
I’m not sure that’s a sustainable interest rate, though…
Of course not.
But that’s how the circle keeps going.
The Argentinian peso has really done one heck of a slide in the last five years, from 5 Peso to the Euro to 25 Peso!
Can’t seem to find much news about what’s happening on the ground there although I did meet a woman who returned recently after living there for 8 years and she it was getting bad. Didn’t have time to quiz her on that but she said it was bad enough to make her return, otherwise she had loved it there.
Just wait until they make another move on the Falklands, then we’ll know it’s really bad!
Can you qualify bad with a few quick adjectives?
Well that woman i was taking with did say that where she was in Argentina violent crime had ramped up in the last three year. As I said I haven’t found any reports about conditions on the ground in recent years but it certainly doesn’t sound good.
So big uptick in violent crime, ok, are we talking South Africa type anecdotes?
This is just one persons perspective. I’m just curious as to what is actually going on on the ground there at the moment, wouldn’t mind a trip to Argentina and Uruguay in the next few years. They were on my itinerary three years ago but I ran out of time. However I did fly back to Europe with Aerolíneas Argentinas which felt more like that bus I used I take to the RTC in the 80s which seemed about to clap out at any moment.
BUENOS AIRES (Reuters) - Argentina’s beleaguered peso currency collapsed on Monday and inflation was expected to rise as voters flirted with a return to interventionist economics by snubbing market-friendly President Mauricio Macri for the opposition in Sunday’s primary vote.
The peso weakened 30.3% to a record low of 65 per U.S. dollar on Monday, traders said, after opposition candidate Alberto Fernandez - whose running mate is former president Cristina Fernandez de Kirchner - dominated the primary by a much wider-than-expected 15.5 percentage point margin.
No need to remove tariffs.
That beef is getting cheaper by the day.