Repayments i dont think that is as much an issue as we thought weve sort of gone away from our debt and deficit fetish in a stride because its been saying its more political scare campaign than anything of you know grounded in an economic theory. Does debt matter i mean i guess it does for argentina still under its i. M. F. Program what is the state of argentinas economy right now. Well i was i was listening you know to the to the other answers and thinking well if you print money for long enough then you push it into so many electoral cycles then it becomes a structural problem so youre talking about you know that a Monetary Policy no matter what stage you are within a government so i mean of course that matters to argentina and the key question right now is whether the next administration whoever it may be you know will be able to repay dead or needs to restructure the payments schedule with the i. M. F. You know its unrealistic for argentina to face its that payments in 20202021 so
Choice frankly when they started printing money it was an unprecedented policy approach but they felt they were facing unprecedented times jim should we be worried about debt the new thinking it seems among more than Monetary Policy advocates is the debt no longer matters who are strongly we had our debt and deficit. Before the election now the elections over its sort of gone on why are very low in any case i think. Provided youve got. An export process as i cry in the in the last issue the last question where we talked about brazil and china both a strong brazil we have. Help with strong Commodity Prices so you know stride is had a morning boom with exports to china or brazil which had a dawning boom would saw your bones and so on so i think if youre a situation where your commodity. I mean you can make your interest free payments i dont think that is as much an issue as we thought weve sort of gone away from a debt and deficit fetish in a strike because its been saying its more polit
Seeing as its august when most of the Financial Markets go away for a vacation and we thought that it would be the ideal time to take stock and what a year its been for the independence of Central Banks governors have been threatened resigned or been fired by populist leaders the Global Economy is slowing thanks to the own going trade war between the United States and china the International Monetary fund cut its Global Growth outlook saying that missteps on trade and briggs it could hurt any recovery the World Economy will expand by 3. 2 percent this year the fund said that growth rates would be the weakest since 2009 but the funds growth predictions are far more optimistic than those of some independent analysts and sanctions and the threat of sanctions have ratcheted up the tensions in this part of the world the middle east the own going breaks it saga selections that could change both the political and economic landscape and not. Ceasar really for the best so weve got a lot to get
Choice frankly when they started printing money it was an unprecedented policy approach but they felt they were facing unprecedented times jim should we be worried about debt the new thinking it seems among more than Monetary Policy advocates is the debt no longer matters who are struggling we had our debt and deficit. Before the election the elections over its sort of gone on why are very low in any case so i think. Provided youve got. An export process as i cry. In the last issue the last question where we talked about brazil and china with a strong brazil we have. Help with strong Commodity Prices so you know stride is had a morning boom with exports to china or brazil which had a dawning boom would saw your bones and so on so i think if youre a situation where your commodity. I mean you can make your interest free permits i dont think that is as much an issue as we thought weve sort of gone away from a debt and deficit fetish in a straw idea because its been saying its more politic
More solid, with the exception of what is happening in hong kong. Yvonne saw another violent weekend. Police firing tear gas at subway stations. Hong kong relatively stable when it comes to the hang seng. Cathay pacific, seeing one of the biggest worst sessions we have seen. Lets talk about what would watching in terms of currencies. Dollar china below that 710 handle. Comingseeing strength through in the earlier losses. The close on friday was not pretty. David we took one of the three levels we were tracking, which would not take you back to the referendum. Took out 121, 10 speak looking at 11986. Watching those levels very closely. Iron ore is continuing. 28 depending on what contract. Still holding up at the 1500s. Yvonne lets talk more about what is moving on these markets. We saw stronger fixing from the pboc, where the currency headed now . What the pboc is signaling is aat it is trying to oversee steady, controlled weakening of the currency. Thats what the fixes have shown over