3,098 Results for:

December 19, 2004

Plaza, or Louvre?

The 1985 Plaza accord sought to drive the dollar down; the 1987 Louvre sought to keep the dollar from falling further. There is growing talk of a new Plaza in the US -- though not in the circles tha…

December 26, 2004

Emerging Markets
Argentina in the boxing day New York Times

The IMF’s typical diagnosis of an emerging economies problem is "its mostly fiscal", or so the wonky saying goes. Larry Rohter of the New York Times makes the argument that Argentina’s post 2001 suc…

January 11, 2005

Emerging Markets
Should the IMF ever take a haircut?

Before Argentina’s default, Adam Lerrick thought the IMF (or the G-7) should offer to buy Argentina’s bonds at 60 cents on the dollar. Argentina is now offering bondholders an exchange that will be …

January 30, 2005

Financial Markets
Stephen Jen might want to rejigger his model

Apparently, Mr. Jen thinks the dollar -- despite the United States’ 6.2% of GDP current account deficit -- is significantly undervalued against all major currencies, and fairly valued against most As…

January 9, 2005

Financial Markets
The price of a European vacation

As readers of this blog no doubt know, the dollar rallied v. the euro last week. Not that most of America noticed. In much of America’s heartland, the dollar’s value does not make the financial new…

February 26, 2005

Emerging Markets
Has Argentina changed the rules of the sovereign debt game?

Argentina is on the verge of completing one of the largest sovereign debt restructurings in history. Argentina is seeking to restructure about $82 billion in bonds, plus $21 billion or so in past d…

June 19, 2005

China
Two articles on China. One good. One not so good.

Reuters has done a nice wrap up of what we know -- and more importantly what we don’t know -- about how China manages its reserves. They correctly note that the TIC data misses so much that it, alon…

July 29, 2005

Economics
More trade with Central America, less with China?

Is that the deal that brought wavering Republicans from textile states on board?  We will see. But the House speaker, J. Dennis Hastert, told him they needed his vote anyway. If he switched from "nay…

August 9, 2005

Capital Flows
Iran, Nukes, China, Oil, and a few other things

I wonder if Iran's intransigence is any way related to this? Obviously, the risk of a supply disruption, whether in Saudi Arabia, Iran or Iraq is one reason why oil prices are high. But I suspect…

July 28, 2005

Emerging Markets
Argentina has found an easy way to keep its reserves from rising

Pay off the IMF. Argentina is one of the few countries whose reserves have been growing about as fast as China's.  It just started 2003 with about $10 b in reserves (and a ton of debt), whil…