Wednesday, March 07, 2012
...is that global bond markets are unable to price any form of sovereign debt given a putative avalanche of haircuts based on the precedent of Greece.
But current prices are not discounting this...yet. However, some countries are certainly using this option for political purposes.
Mr. Shaw also pointed out that the information minister had said Dr. Peter Phillips would have commented. Controversy erupted when u-s financial media house Bloomberg quoted Mrs. Simpson Miller as saying "if they could give a bailout like Greece, lord have mercy, you would see Jamaica grow and flourish." Bloomberg had also quoted her as saying the Jamaica debt exchange was a failure.