75929
No Domino Effect
No Domino Effect

No Domino Effect

No Domino Effect

A looming Venezuelan debt default is unlikely to trigger any domino effect in neighboring economies as markets have long since priced in such an eventuality, economists say, AFP reported. All alarm bells started ringing in the troubled South American country when the three major rating agencies—Standard and Poor’s, Fitch and Moody’s—further downgraded Venezuela’s credit ratings. They see it as “highly probable” that the OPEC member will halt debt repayments, a week after President Nicolas Maduro called for a refinancing and restructuring of the country’s debt and Venezuela’s state oil company PDVSA missed payment on a $1.1 billion bond. Debt restructuring entails at the very least an extension of repayment deadlines, and frequently a partial write-off. A group of creditors could declare the missed PDVSA payment a “credit event”, thus triggering payment of credit default swaps that some investors buy to protect themselves, and would likely push the ratings agencies to further downgrade the nation.

Short URL : https://goo.gl/YyUsSw
  1. https://goo.gl/F1mqyj
  • https://goo.gl/uek8nA
  • https://goo.gl/u5vwDy
  • https://goo.gl/ApZf5Y
  • https://goo.gl/44Wsqj

You can also read ...

Singapore PM Says Economy Needs Restructuring
Singapore’s economic growth could exceed 3% in 2017, higher...
World GDP is expected to advance 3.5% in 2017—its best year since 2011—and 3.7% in 2018.
Nearly 10 years after the financial crisis brought the global...
Supporters of EU-Mercosur Free-Trade Pact Push for Deal
Supporters of a free trade pact between the EU and the...
Kuwait Needs $100b Over 5 Years to Cover Deficit
Kuwait will need $100 billion of additional financing over the...
Emmanuel Macron (L), French Labor Minister Muriel Penicaud (C) and Jean-Claude Juncker.
The EU is trying to present itself as more socially just,...
China to Help Shortfalls in Pension Funds
China on Saturday announced a pilot program to help pension...
The OECD believes that tax evasions cost governments around the world as much as $240 billion a year in lost revenue.
They have revolutionized the way people live, but are US tech...
Few Signs of Progress in NAFTA Talks
Negotiations in Mexico to update NAFTA have not made much...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus