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Thursday, May 26, 2022
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IMF says job done in Nicaragua, closes office

MANAGUA, Nicaragua – The International Monetary Fund said Wednesday it will close its office in Nicaragua in August because its job was done helping the country reduce debt and poverty, and to get on the path to sustainable growth.

Argentina to borrow $15 billion to pay creditors

Argentina aims to borrow $15 billion when it returns to debt markets so it can pay off international creditors who have sued it in a U.S. court, the government said.

Argentina eyes debt deal with US investors

Argentina's President Mauricio Macri said he hoped for a "reasonable agreement" with the country's foreign creditors when he re-launches negotiations over billions of dollars of debt with U.S. investors Wednesday.

Ravaged by oil’s collapse, Venezuela now has a big gold problem

Venezuela had 68 percent of its international reserves in bullion as of August, according to the World Gold Council. That's a big worry because the price of the precious metal has tumbled 15 percent from this year's high in January as the global slump in commodities deepened.

Banks reopen, taxes rise as Greece pays billions to creditors

ATHENS, Greece – Greece's government hiked taxes and paid billions of euros to its creditors on Monday, as banks reopened just days after the debt-laden country reached a reforms-for-cash deal with its European partners.

Global markets fall as Greece closes banks and twin defaults loom

U.S. stocks faced their worst day of the year on Monday, with the Dow Jones industrial average plunging 350 points. It was part of a sell-off that spanned three continents after negotiations between Greece and its creditors broke down over the weekend and Athens closed the nation's banks.

Puerto Rico’s governor says Washington must help with staggering debt

Groaning under at least $73 billion in debt, Puerto Rico — which is being called "America's Greece" — is staggering down a path towards default, a scenario that could ripple across cities and states that depend on bonds for building everything from schools to stadiums.

Greek talks ‘go backwards’ as default looms

BRUSSELS, Belgium – Greece and its EU-IMF creditors failed to break the deadlock in emergency talks on Thursday to reach a bailout deal, raising fresh fears of a default by Athens that could send it crashing out of the euro.

Europe’s pointless exercise in Greek austerity

WASHINGTON, D.C. — History repeats itself, first as tragedy, then as farce, and finally as trolling. That, at least, is the case in Greece, where its lenders want it to cut its pensions rather than hike its business taxes, because they're afraid those increases would, as the Financial Times' Peter Spiegel reports, "crimp economic growth."

Fitch Ratings downgrades Costa Rica outlook

Fitch Ratings downgraded its outlook on Costa Rica’s sovereign debt from “stable” to “negative” in a statement released Thursday morning. Despite the negative outlook, Fitch maintained its BB+ rating for the debt.

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