South America

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Tensions Over Money Flows Bode Poorly For Global Economy

For a bunch of people who just agreed the global economy is doing better, top officials from the world's rich and poor nations sound rather worried. For poor nations, the easy monetary policies in advanced economies are leading to big swings in capi ...

Daily Headline - global.abi.org - 04/14/2014 - 21:31 - 0 comments

La Polar Seeking Second Debt Restructuring After 2011 Default

Empresas La Polar SA, Chile’s fourth-biggest department store operator, said it is planning to restructure debt for a second time following its 2011 default. La Polar, which defaulted on 493 billion pesos ($1.1 billion) of debt after revealing accounting ...

Daily Headline - global.abi.org - 04/10/2014 - 21:25 - 0 comments

Argentine Transport Unions Strike Over Inflation, Crime

Argentina’s biggest unions paralyzed metro, train and bus services today and blocked the main entrances into the capital to protest rising prices and crime, Bloomberg News reported. Trash started to pile up in downtown Buenos Aires as garbage collection ...

Daily Headline - global.abi.org - 04/10/2014 - 21:27 - 0 comments

IMF Sees Rising Risks for Emerging Markets’ Corporate Debt

Years of cheap credit have inflated corporate and sovereign debt in emerging markets that now find themselves at greater risk of capital flight if global interest rates rise further, the International Monetary Fund said. While the IMF predicts a smooth w ...

Daily Headline - global.abi.org - 04/09/2014 - 21:21 - 0 comments

Argentina Expands Price Control Program as Inflation Rages

Argentina has added more than 100 consumer products to a controversial price control program as the government grapples with one of the highest rates of inflation in the world, The Wall Street Journal reported. Inflation is widely thought to be more ...

Daily Headline - global.abi.org - 04/07/2014 - 21:57 - 0 comments

Problem Of Banks Seen As ‘Too Big To Fail’ Still Unsolved, IMF Warns

The world’s largest banks still receive implicit public subsidies worth as much as $590bn because of their status as “too big to fail” and the assumption of a government bailout if they get into trouble, the International Monetary Fund warned on Monday, ...

Daily Headline - global.abi.org - 03/31/2014 - 21:27 - 0 comments

Credit Markets Open To Argentina For First Time In Years: Ministry

Argentina has been approached by financial institutions offering it loans at favorable rates, the economy ministry said on Sunday, marking a tentative reopening of international credit markets for the first time in over a decade, Reuters reported. The ec ...

Daily Headline - global.abi.org - 03/30/2014 - 21:33 - 0 comments

Brazil's OSX Says Has 60 Days To Present Restructuring Plan

Brazilian shipbuilder OSX Brasil SA has 60 days to present its restructuring plan under bankruptcy legislation now that a new judge has been appointed to the case, the company said in a filing on Friday, Reuters reported. The Third Commercial Section of ...

Daily Headline - global.abi.org - 03/23/2014 - 10:13 - 0 comments

Banacol Announces Debt Restructuring Plan

Struggling Colombian banana marketer Banacol announced a financial restructuring plan last week in a bid to deal with mounting financial pressures, FruitNet.com reported. According to a report in Elcolombiano.com, the company is facing debts of US$184m r ...

Daily Headline - global.abi.org - 03/18/2014 - 21:31 - 0 comments

Brazil's OSX Board Approves Terms Of Unit's Bond Restructuring

The board of OSX Brasil SA, the shipbuilder controlled by former Brazilian billionaire Eike Batista, approved key terms of the restructuring plan for its leasing unit, according to a filing on Tuesday, Reuters reported. Last week the unit, OSX 3 Leasing ...

Daily Headline - global.abi.org - 03/18/2014 - 21:32 - 0 comments

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