February 2, 2005 |
The Mexican stock market zoomed to a record high Tuesday after credit-rating firm Standard & Poor's lifted the country's debt rating. The main IPC share index jumped 243.40 points, or 1.9%, to 13,340.52, bringing its year-to-date gain to 3.3%. The index is off to a strong start after soaring 44% in 2003 and 47% last year.
February 8, 2002 |
Standard & Poor's Corp. raised Mexico's foreign debt rating to investment grade Thursday, a long-awaited seal of approval for President Vicente Fox's economic policies that recently have included steep budget cuts and unpopular tax and electricity rate hikes. The upgrade to BBB-minus from BB-plus by the rating agency often viewed as the most influential will reduce Mexico's cost of borrowing on international markets and generate a significant increase in foreign investment, analysts said.
December 23, 2001 |
The man set to become Argentina's newest caretaker president is expected to announce today that his government will temporarily stop making payments on its massive foreign debt, as this nation struggles to recover from a week of violence and political upheaval brought about by the collapse of its economy. Political observers here said late Saturday that Adolfo Rodriguez Saa was likely to be sworn in this morning as Argentina's third president in a week.
August 22, 2001 |
The International Monetary Fund said Tuesday it is prepared to provide $8 billion in new loans to help the government of Argentina keep its ailing economy afloat and avoid a potential default on its foreign debt. IMF Managing Director Horst Koehler urged the fund's executive board to boost Argentina's existing $14-billion credit line to $22 billion, the IMF said.
July 14, 2001 |
At birth, each child born in Latin America owes a symbolic $1,550 in foreign debt. Nearly 50 out of every 1,000 Latin American children will die before their 6th birthday. Children who manage to survive their first five years probably won't complete elementary school. They likely be forced to work on the streets--or beg--before becoming a teenager. They'll live in a slum without clean water and be malnourished.
January 22, 2000 |
South Korea's financial regulator said today that Daewoo Group and foreign creditors have reached a debt restructuring agreement. Daewoo Group's local creditors agreed to buy the company's debt to foreign banks in a move aimed at saving the South Korean conglomerate from bankruptcy. "Foreign creditors agreed to accept 39% to 40% of collection rate of their debts to four Daewoo affiliates," said a spokeswoman at the Financial Supervisory Commission.