Sovereign finances survived the global recession, just barely in some cases, but now Puerto Rico and Venezuela are insolvent. While the reasons for their plight may differ, there are lessons common to all defaults that investors and citizens should heed.
Nov 30, 2017 predicts that key similarities between Puerto Rico and Venezuela will emerge as their debt sagas play out.
Nov 9, 2015 & believe that restructuring should be subject to nine principles adopted in September by the UN.
Sep 2, 2015 says that the US and the island's government both bear responsibility for the deepening crisis.
Oct 6, 2016 & examine the perils holdout creditors now pose for countries, like Venezuela, facing sovereign default.
The US may have a trade deficit with the rest of the world, but its multinational companies have a major surplus when it comes to sales in foreign markets – especially China. If the US-China trade war continues to escalate, these firms will be, as US President Donald Trump might put it, the biggest losers.
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