A review of the 2004 economy and the prospects for 2005

Informes Mensuales

 

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A review of the 2004 economy and the prospects for 2005

Diciembre 2004

The debt restructuring is back on track.

The public debt restructuring process seems to be once again on track as the government finally agreed to hire the Bank of New York as the exchange agent in the transaction. While it is unfortunate the way in which the BoNY was first fired and then hired, and that the government lost precious time looking for “conspirators” instead of being realistic and working with the banks to solve the complex operational issues, the good news is that the process is moving forward.