/PRNewswire/ Gramercy Funds Management LLC, the U.S. emerging markets investment firm, yesterday filed a complaint in U.S. federal court under the Racketeer.
As IMF Talks Bog Down, Argentine Bonds Plunge Toward 30 Cents
Bloomberg 3/8/2021 Scott Squires and Jorgelina do Rosario
(Bloomberg) Six months after Argentina exited default, its new bonds have sunk to a mere 30 cents on the dollar.
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The depressed price is, in fairness, partly the result of the basic mechanics of the securities they carry artificially low interest rates and a generous grace period but it also reflects a grim reality that’s setting in on creditors: The IMF deal that the country desperately needs is a long ways off.
Without that accord, and the fresh capital it could bring, Argentina’s pandemic-ravaged economy will remain listless and its finances so precarious that a default the country’s fourth of this century becomes all but inevitable when the bonds start coming due. At today’s prices, the bonds yield more than 1,500 basis points, or 15 percentage points, above U.S. Treasuries.
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When the Elon Commitment 10-year strategic plan was produced in 2010 it envisioned a possible expansion of Carol Grotnes Belk Library that would include a relationship-rich center for student support. It would be a one-stop location for students to receive academic advising, peer tutoring, writing help, library research support or learning assistance. Joan Ruelle, dean of Belk Library, helped in developing the idea and thought of it as a learning commons.
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