Sep 5, 2008

Toma chocolate, paga lo que debes

The Economist, hasta no hace mucho una de mis publicaciones especializadas preferida, sobre el pago al “Club de Paris”.

Qué cosa, pensar que hasta hace un año seguían entusiasmándose con el "modelo" argentino:

If Ms Fernández hoped that her decision would calm investors’ nerves, she appears to have been mistaken: the spread between the interest rates on Argentina’s bonds and US Treasury notes actually increased on the day she made the announcement. The markets remain jittery because Argentina’s unpaid obligations to the Paris Club were in fact among the least of its worries. The government still refuses to negotiate with the private holders of $20 billion of its bonds who held out against the country’s harsh debt restructuring in 2005, a decision that prevents it from borrowing on the international capital markets. It continues to impose strict price controls and hand out lavish energy and transport subsidies. And it suffers from a yawning credibility gap, due to lies about the inflation rate.

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