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Tag: Debt crisis

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Republic of Suriname Foreign And Local Currency Ratings Raised To 'CCC+/C' From 'SD'; Outlook Stable

Republic of Suriname Foreign And Local Currency Ratings Raised To ‘CCC+/C’ From ‘SD’; Outlook Stable

On Dec. 6, 2023, we raised our long- and short-term foreign and local currency sovereign credit ratings on Suriname to ‘CCC+/C’ from ‘SD’ (selective default). At the same time, we withdrew our ratings on Suriname’s senior unsecured debt. We also raised our transfer and convertibility assessment to ‘CCC+’. The outlook on the long-term ratings is…
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The global debt crisis - Is the world on the brink of collapse?

The global debt crisis – Is the world on the brink of collapse?

Experts are sounding the alarm: the world is caught in a debt trap. The global mountain of debt has increased to more than 300 trillion US dollars. To cancel it out, the Earth’s population would have to work for nothing for three years. Is this a cause for concern? Will private individuals, companies and even…
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Javier Milei

In Argentina, Javier Milei faces a massive economic crisis

The radical libertarian is taking over a country on the brink To an American audience, Argentina’s election may seem uncannily familiar. A political outsider with bouffant hair and a history of outrageous remarks promises to make the country “great again”, and is written off by the liberal elite before winning the presidential poll with a…
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Fitch Upgrades Suriname's LT-FC IDR to 'CC'

Fitch Upgrades Suriname’s LT-FC IDR to ‘CC’

Fitch Ratings – New York – 16 Jul 2020: Fitch Ratings has upgraded Suriname’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’ from ‘RD’. Fitch has also upgraded the issue rating on Suriname’s 2023 notes to ‘CC’ from ‘D’. KEY RATING DRIVERS The upgrades follow the completion of the “consent solicitation” to reschedule the principal…
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Margin Call – “Sell it all. Today.”

Margin Call – “Sell it all. Today.”

“Margin Call” is a very underappreciated movie IMO. The movie is starred by Stanley Tucci and Kevin Spacey. There are a lot of parallels between this movie and what happened last Friday with the unwinding of Archegos Capital Management’s positions by Goldman Sachs and others. No idea why I started thinking about it on Friday…
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Catherine A Hughes

Opposition in Guyana Worries

Moves Expected eyesonsuriname Amsterdam, July 24 2023== The government in Guyana predicts that oil related projects in Guyana predict that a year’s oil revenue will be equivalent to almost its total outstanding debt.  However, political opponents to the current administration have said the country’s debt is mounting and this could impact its future prospects.  Alliance…
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Suriname & the IMF

Suriname & the IMF

eyesonsuriname The IMF staff team and Surinamese authorities reached a staff-level agreement on the second review of the authorities’ economic recovery program supported by the Extended Fund Facility (EFF). The review is subject to approval by the IMF’s Executive Board.. Suriname’s economy continues its slow post-pandemic recovery, but the shock of higher commodity and food…
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FOOD FOR BANKING THOUGHT

Food for Banking Thought

One Question eyesonsuriname 1️⃣ How does a bank ‘work’? A bank is split into banking assets that is what a bank owns  vs liabilities or what a bank owes. A bank’s assets, like the US$23 trillion in the US): They help the bank generate income and a ‘healthy’ portfolio includes a mix of loans plus…
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Restructuring Oppenheimer debts

Restructuring Oppenheimer debts

Cautious recovery start  eyesonsuriname Amsterdam, May 4, 2023– After protracted negotiations since 2020, the government has reached an agreement in principle with the Eurobond Creditor Committee on the restructuring of the Oppenheimer debts.  These debts weigh heavily on the budget and limit the financial scope to implement policy for the population.  The restructuring of the…
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The Fall of Silicon Valley Bank

Crisis SVB changes interest policies Central Banks eyesonsuriname Amsterdam, 12 March 2023– In early March, 40 chief financial officers from various technology groups gathered in Utah at the ski resort of Deer Valley for an annual “snow summit” hosted by Silicon Valley Bank, a crucial financial institution for start-ups.  Barely a week later, on Thursday…
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