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Screw you Argentina (we shall not cry for you)

When Hugo Chávez announced in 2008 he was buying about 1,000 million dollars in new debt in Argentina, a new batch of bonds called Boden 15. I want to focus on the overt hypocrisy of Hugo Chávez, who allegedly provided money to Cristina Fernandez de Kirchner because it has great confidence in Argentina’s economy, while at the same time comes to dispose of the bonds as soon as possible in Venezuela , selling them to Venezuelan banks, who only buy the bonds because they want to get dollars (not freely available due to exchange control). But the grace of Hugo Chávez became a grimace, which has served him quite a shock to the Argentine government, which had to move quickly on the weekend to prevent a collapse of its bonds in international markets. Continue Reading →

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