Debt Default

Argentina Seeks to Restructure Debt Held by Vulture Funds

By Marcela Valente
As a sign of Argentina’s willingness to repay its bondholders, President Cristina Fernández introduced a bill for a new swap of the foreign debt held by “holdout” creditors who refused earlier restructurings after the country’s late 2001 default.

Caribbean Economies Battered by Storms

By Jewel Fraser
The Caribbean is in danger of becoming “a region of serial defaulters” with respect to international debt obligations, according to one expert, and this may partly be due to its economies suffering frequent shocks from natural disasters.

Argentina vs Holdouts Could Set Precedent for Future Debt Crises

By Marcela Valente
The fate of countries with major debt problems is at stake in federal courts in New York, which are to decide in April whether or not they accept Argentina’s proposal to the bondholders who rejected two restructurings of sovereign debt.


extraordinary popular delusions and the madness of crowds