Latin Free Markets Rule as Pacific Ocean Nations Beat Atlantic
After a 20-hour meeting with officials from the Paris-based group of creditor nations, which kept President Cristina Fernandez de Kirchner awake until 2 a.m., Argentina said yesterday that it agreed to pay $9.7 billion over five years to settle claims stretching back to the government’s record $95 billion default in 2001. South America’s second-biggest economy hasn’t issued bonds in international markets since it stopped payments.
Solving the remaining dispute with holdout creditors including billionaire Paul Singer’s Elliott Management Corp. is becoming more urgent with foreign-exchange reserves stuck near an eight-year low. Argentina needs the money to fund investment, defend its currency and make payments on restructured bonds, while any proceeds from a U.S. bond sale could be seized by creditors backed by court orders saying they’re owed billions.
Video (starts right away): Staying safe at the World Cup in Brazil
Health and safety fears are growing as foreign fans prepare to travel to Brazil with worries of crime, disease, policing and fake medicines
Brazil’s World Cup Is An Expensive, Exploitative Nightmare
Brazilians angry at their government and FIFA could turn this giant soccer tournament into a tipping point. Are these corrupt, elitist spectacles worth it?
Nao Vai Ter Copa has become a national rallying cry. There Will Be No World Cup.
Will Chile’s politicians ruin the Latin tiger?
The free-market revolution in Chile is remarkable. If you look at the Economic Freedom of the World rankings, Chile was in last place in 1970. Now it’s around 10th. It would be tragic if Leftists ruined it
García Márquez’s Blind Spot
In Puerto Rico, Cocaine Gains Access to U.S
The week’s posts and podcast:
Ecuador’s looking for a few good extras
At Da Tech Guy Blog:
Venezuela: Bi-partisan US Congress approves sanctions bill