Stiglitz sees ‘significant haircuts’ for Argentina's debt

[MilHojas]

Economist Stiglitz sees ‘significant haircuts’ for Argentina's debt

“The reality is there will have to be significant haircuts,” says economist in interview at the World Economic Forum in Davos.

www.batimes.com.ar

 

[Rich One]

Stiglitz declaration at Davos haven't been much of a help. Having Stiglitz as a coach maybe something to regret..?
As the CEO Presidents failed throughout the continent ; Kuchynsky, Macri and Piñera . The Nobel advisors may backfire..?

 

[Ries]

History has shown that all previous Argentine debt got serious haircuts. Why wouldnt it happen again? And how would paying all debt at face value be "a help" as compared to paying less? Seems to me like Argentina would benefit a lot if it paid, say, $30 Billion in USD , as opposed to $150 Billion.

 

[Rich One]

Cristina President ..! While Alberto is away... When the Cat is away the rats play..!

 

[Rich One]

History has shown that all previous Argentine debt got serious haircuts. Why wouldnt it happen again? And how would paying all debt at face value be "a help" as compared to paying less? Seems to me like Argentina would benefit a lot if it paid, say, $30 Billion in USD , as opposed to $150 Billion.

Except for Nestor's payment to IMF in full? and Kicillof to Club de Paris? If I recall correctly.

 

[Ries]

Nestor defaulted on the IMF loans, and forced them to roll them over on his terms. He paid about 1/3 of the face value.

And Killicof also bluffed the Club de Paris into cutting the interest rate in half, from 7% to 3.5%.

Both of those qualify as "haircuts".

google it.

 

[Rich One]

Nestor defaulted on the IMF loans, and forced them to roll them over on his terms. He paid about 1/3 of the face value.

And Killicof also bluffed the Club de Paris into cutting the interest rate in half, from 7% to 3.5%.

Both of those qualify as "haircuts".

google it.

Guess there are always different versions.... ! La Nación version, as expressed by Nestor kirchner on Dec 16, 2005. I may have misread this information?


"Argentina will pay to the IMF in advance the total amount owed of 9810 million dollars," said the President with emphasis and jubilant content. In the Casa Rosada

Histórico: el país saldará en un solo pago la deuda con el FMI

Kirchner afirmó que antes de fines de año se pagarán 9810 millones de dólares, con reservas del Banco Central; el monto representa algo menos del 9% de la deuda total del país; hace tres días Brasil había hecho lo mismo; el Presidente dijo que tomó la medida para "ganar libertad"; el FMI elogió...

www.lanacion.com.ar

 

[TheDonald]

Kiciloff just blinked. First, the deadline was the end of today. Now, the deadline is January 31st.

When you are in intense negotiations for hundreds of millions of dollars, and you draw a line in the sand - like set a deadline - you better keep it. Otherwise, you are seen as weak and unreliable. What an amateur.

 

[Rich One]

Nestor defaulted on the IMF loans, and forced them to roll them over on his terms. He paid about 1/3 of the face value.

And Killicof also bluffed the Club de Paris into cutting the interest rate in half, from 7% to 3.5%.

Both of those qualify as "haircuts".

google it.

The Kicillof negotiations with the Club de Paris , was a disaster, the debt payment ended up US $3.4 billion OVER what was originally agreed upon.He was questioned in Congress and criminally denounced for his mal performance 07/2014

Kicillof incumplió su promesa en el Congreso y sigue ocultando el acuerdo con el Club de París

El ministro de Economía iba a reunirse con legisladores este lunes, pero suspendió el encuentro.

www.lapoliticaonline.com

"The senator of Unen, Fernando "Pino" Solanas, took the opportunity to ask the Kicillof head of the Palacio de Hacienda for the striking final figure of the agreement by the Paris club, which was 9700 million dollars, 3,400 million more than what was in the official forms only one year ago, an irregularity that the legislator denounced criminally.

The minister escaped, but at the insistence of other legislators had to refer to the issue. “The debt is what I negotiated with representatives of all countries. With them, I'm not going to draw a number, ”he defended himself.

"Then we want to see the agreement, because we didn't even see it!", They asked in unison. "Yes, I will send it," the minister promised...?
..

 

[lost]

"The senator of Unen, Fernando "Pino" Solanas, took the opportunity to ask the Kicillof head of the Palacio de Hacienda for the striking final figure of the agreement by the Paris club, which was 9700 million dollars, 3,400 million more than what was in the official forms only one year ago, an irregularity that the legislator denounced criminally.

Interestingly Pino Solanas has switched sides and was with "Frente para Todos" (the current government's alliance) in the last elections. Go figure ...