[Marxism] Bonds That Bind: Argentina, Venezuela, and the US Current Account Deficit

Nestor Gorojovsky nestorgoro at fibertel.com.ar
Tue Mar 29 15:05:55 MST 2005


I would not place too many bucks on the bet, but there is a 
probability (different from zero indeed) that Kirchner strikes back 
by some kind of retaliative action against IMF itself.

Respuesta a:"[Marxism] Bonds That Bind: Argentin"
Enviado por:Yoshie Furuhashi
Con fecha:29 Mar 2005, a las 10:53

> "Bonds That Bind: Argentina, Venezuela, and the US Current Account
> Deficit" (Argentina successfully forced more than three quarters of
> its creditors to accept 35 cents on the dollar, but NML Capital, a
> Cayman Islands-based hedge fund, is striking back, winning a freeze on
> $7bn of the old bonds tendered in restructuring.  The IMF is already
> changing its tune, now publicly sending a signal that it may ask
> Buenos Aires to reopen its $102.6 billion debt swap to renegotiate
> with hold-outs.  Bad news on the litigation front came at the same
> time as emerging market bonds and stocks, having flourished in the
> credit bubble, dropped in response to rising US interest rates. 
> Washington's belated attempt to address the US current account deficit
> through higher interest rates alone, without giving up on the Iraq War
> and tax cuts for the rich that have pushed up its fiscal deficit or
> doing anything to resuscitate its atrophied export base, may be now
> beginning to take a toll on the global economy.  In the meantime,
> Venezuela, in a gesture of solidarity, "said it will buy $500 million
> of 7-year bonds that Argentina plans to sell within two weeks, the
> first bond sale for Argentina since its 2001 default" says Peter
> Wilson of Bloomberg.com.  Is it any wonder Hugo Chávez's "petro
> populism" is more popular among Latin Americans than the moribund
> Washington Consensus?) -- FULL TEXT:
> <http://montages.blogspot.com/2005/03/bonds-that-bind-argentina-venezu
> ela.html>. -- Yoshie
> 
> * Critical Montages: <http://montages.blogspot.com/>
> * Greens for Nader: <http://greensfornader.net/>
> * Bring Them Home Now! <http://www.bringthemhomenow.org/>
> * OSU-GESO: <http://www.osu-geso.org/>
> * Calendars of Events in Columbus: 
> <http://sif.org.ohio-state.edu/calendar.html>, 
> <http://www.freepress.org/calendar.php>, & <http://www.cpanews.org/> *
> Student International Forum: <http://sif.org.ohio-state.edu/> *
> Committee for Justice in Palestine: <http://www.osudivest.org/> *
> Al-Awda-Ohio: <http://groups.yahoo.com/group/Al-Awda-Ohio> *
> Solidarity: <http://www.solidarity-us.org/>
> 
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Néstor Miguel Gorojovsky
nestorgoro at fibertel.com.ar

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"Sí, una sola debe ser la patria de los sudamericanos".
Simón Bolívar al gobierno secesionista y disgregador de 
Buenos Aires, 1822
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