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 ...

The 2017 “WannaCry” cyber attack demanded affected users wire ransom money via Bitcoin.
You don’t have to be a digital whizz kid to know that the wars...
A woman protests a planned coal-fired plant  in southern Thailand.
Southeast Asian governments are finding themselves caught...
Malaysia has shown willingness to move towards  a market-oriented mechanism.
Forty-three World Trade Organization members who participated...
Singapore to Hike GST for First  Time in Decade
Singapore is expected to raise goods and services tax for the...
South Africa Wants to Increase VAT Rates
With an economic downgrade to junk status, a slowly growing...
China’s Commerce Ministry says the proposed US measures are groundless.
China said proposed US tariffs on imported steel and aluminum...
Fitch Upgrades Greece
Fitch Ratings raised Greece’s sovereign credit rating by one...
62% of Japan Loan Rate  Below 1%
After two years of the Bank of Japan guiding key interest...

Add new comment

Read our comment policy before posting your viewpoints