This tag is associated with 8 posts

Puerto Rico Defaults On Debt For The First Time In Its History

Puerto Rico has defaulted on its debt obligation for the first time in its history. On Monday, Puerto Rico paid a mere $628,000 toward a $58 million debt bill that was due to creditors of its Public Finance Corporation (PFC) in a risky move that will intensify pressure on creditors for a broader debt renegotiation, and will likely make future … Continue reading

Harnessing Asia’s Dynamism for Latin America

Latin America’s recent economic fortunes highlight the region’s closer economic ties with Asia. China, in particular, has grown into a crucial source of demand for Latin American commodities over the past two decades, providing significant gains to the region. The flip side is that the ongoing structural slowdown of Chinese investment is weighing considerably on … Continue reading

Forget Greece; Puerto Rico Is The Debtor Americans Need To Watch

Originally posted on Kyle Wingfield:
People celebrate the outcome of the bailout deal referendum at Syntagma Square in Athens, Greece, July 5. (Eirini Vourloumis / The New York Times) Greece is in the headlines today, after voters there rejected the “austerity” measures other European nations had demanded in exchange for yet another bailout of the…

Greece Is Not Alone: Puerto Rico Bonds Tumble As Governor Calls For Debt Relief

“Prices on Puerto Rico’s newest general obligations sank to record lows after Governor Alejandro Garcia Padilla said investors should be prepared to sacrifice if they want the cash-strapped island’s economy to grow,” Bloomberg reports. “With two days left in Puerto Rico’s fiscal year, the commonwealth is struggling to pass a budget that would allow it … Continue reading

Fiscal Impact Of Lower Oil Prices On Latin America And The Caribbean

The plunge in world oil prices—from $105 to about $50 per barrel since mid-2014—has been a boon for oil-importing countries, while presenting challenges for oil exporters. By Robert Rennhack and Fabián Valencia In general, oil importers will enjoy faster growth, lower inflation, and stronger external positions, and most will not encounter any significant fiscal pressures. … Continue reading

(Yet) Another Year Of Subpar Growth: Latin America And The Caribbean in 2015: IMF

By Alejandro Werner IMF The turn of the year usually brings a fresh dose of optimism. Yet, worries dominate across much of Latin America and the Caribbean today, as 2015 marks yet another year of reduced growth expectations. Regional growth is projected at just 1¼ percent, about the same low rate as in 2014 and … Continue reading

Rapprochement Between The U.S. And Cuba And Sanctions Against Venezuela – OpEd

By William Camacaro and Frederick B. Mills In a historic address on December 17, 2014 on “Cuba policy changes” President Barack Obama declared, “our shift in policy towards Cuba comes at a moment of renewed leadership in the Americas.” This “renewed leadership,” in our view, seeks to gradually undermine socialism in Cuba, check waning U.S. influence in the … Continue reading

Obama Announces U.S. Will Establish Embassy In Cuba, Lift Sanctions

United States President Barack Obama said Wednesday that the US is initiating plans to rebuild its relationship with Cuba following decades of disputes between the two nations. Speaking from the White House in Washington, DC, Pres. Obama said Wednesday that the US is seeking to establish diplomatic relations with Cuba and soon plans to open … Continue reading

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