Found 16 article(s) for author 'Sovereign Debt'

How to Address Venezuela’s Crushing Debt Burden

How to Address Venezuela’s Crushing Debt Burden. Ricardo Hausmann, July 10, 2019, Opinion, “The legacy of Chávismo includes a mountain of foreign-currency-denominated claims against the Venezuelan public sector, totaling $150 billion, almost all of which is now in default. When Nicolás Maduro finally leaves power, how can these claims be settled while meeting the country’s desperate need for humanitarian relief and economic recovery?Link

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Challenges Ahead

Challenges Ahead. Ricardo Hausmann, 2018, Book Chapter, “Sovereign debt ratios in advanced and emerging economies have grown to near record highs, while in low-income countries, debt levels have been gradually building since the debt relief of the early 2000s. As global monetary conditions tighten, the burden of debt will grow, and rollover risks will increase. And with a more fragmented creditor base, timely and orderly restructurings may become harder to achieve. This chapter will explore these challenges and consider which policies might enhance crisis prevention and strengthen crisis resolution. It will also consider the extent to which these objectives can be pursued by individual countries, and where multilateral action may be required to improve the international architecture.Link

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The Regional Costs of Venezuela’s Collapse

The Regional Costs of Venezuela’s Collapse. Kenneth Rogoff, September 5, 2018, Opinion, “The refugee crisis generated by the country’s economic implosion is comparable to that in Europe in 2015. In response, US President Donald Trump has floated the idea of military intervention, when what the US should be doing is increasing financial and logistical aid to Venezuela’s neighbors.Link

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The Venality of Evil

The Venality of Evil. Ricardo Hausmann, July 31, 2018, Opinion, “The Oxford English Dictionary defines “evil” as “doing or intending to do harm.” Ultimately, given that Venezuelan President Nicolás Maduro easily could have prevented the economic catastrophe that has befallen his country, there is no other plausible explanation for the suffering and devastation experienced by millions of people.Link

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Venezuela Has a Refugee Crisis Of Syrian Magnitudes

Venezuela Has a Refugee Crisis Of Syrian Magnitudes. Ricardo Hausmann, May 21, 2018, Audio, “Ricardo Hausmann, Harvard economist and Former Minister of Planning for Venezuela, discusses Venezuela’s elections and economic outlook.Alan Bjerga, agriculture reporter for Bloomberg, on how the agriculture sector is hurting from GOP policies on trade, NAFTA, and the rejection of farm legislation in the House.Travis Briggs, CEO of ROBO Global, on investing in robotics, automation and AI. Brooke Sutherland, Industrials and Deals columnist for Bloomberg Opinion, on GE merging its century-old locomotive business with Wabtec Corp. in a deal valued at $11.1 billion.Link

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Odiousness Ratings for Public Debt

Odiousness Ratings for Public Debt. Ricardo Hausmann, August 30, 2017, Opinion, “Well-functioning markets should have shut down the Venezuelan regime’s access to finance long before US President Donald Trump did. The fact that they didn’t not only shocked the moral sentiments of many, but also revealed a fundamental defect in sovereign debt markets’ institutional architecture.Link

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One Hundred Years of Indebtedness

One Hundred Years of Indebtedness. Carmen Reinhart, June 30, 2017, Opinion, “Gabriel Garcia Márquez, the Nobel laureate novelist most famous for One Hundred Years of Solitude, was native to Colombia. Nonetheless, as a master of magical realism, Garcia Márquez would have appreciated the Republic of Argentina’s recent combination of fact and fantasy. In mid-June, the finance ministry sold $2.75 billion worth of US dollar-denominated bonds that mature in one hundred years.Link

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Harvard’s Hausmann Asks JPMorgan to Cut Venezuela From Index

Harvard’s Hausmann Asks JPMorgan to Cut Venezuela From Index. Ricardo Hausmann, May 26, 2017, Video, “Harvard University economist Ricardo Hausmann is calling on JPMorgan Chase & Co. to remove Venezuela from its bond indexes so that investors whose portfolios track the gauges aren’t compelled to buy notes issued by a government accused of human-rights violations.Link

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