Camajan
Forumer storico
Non so mica se è nella white list
Ho pestato 1 *****
ecco qualcosa di completo: www.pioneerinvestments.it/documents/educational/fiscalita2011.pdf
Titoli di Stato paesi-emergenti Rastafinanza GIAMAICA
- Creatore Discussione Gaudente
- Data di Inizio
Ho pestato 1 *****
ecco qualcosa di completo: www.pioneerinvestments.it/documents/educational/fiscalita2011.pdf
qquebec
Super Moderator
Ho pestato 1 *****
ecco qualcosa di completo: www.pioneerinvestments.it/documents/educational/fiscalita2011.pdf
Mi domando in base a quale criterio logico o tendente al logico hanno inserito lo Zambia e la Tanzania o peggio ancora Trinidad & Tobago (che è anche un paradiso fiscale non tanto distante) nella white list, mentre hanno lasciato fuori la Giamaica.
Ultima modifica:
qquebec
Super Moderator
National Road Operating and Construction Company
Il codice ISIN è questo: US637427AA36. Si tratta della principale società giamaicana di costruzioni stradali controllata direttamente dal Ministero dei Trasporti. Il bond è stato emesso due mesi fa (bookrunner: Credit Suisse) per un ammontare di 294 mln USD. Paga una cedola del 9,375% fino al 2024. Ecco la scheda: Cbonds.Info - Bond Issues: Eurobonds National Road Operating and Construction Company, 2024 + MHTWW Agencies - TA
Il codice ISIN è questo: US637427AA36. Si tratta della principale società giamaicana di costruzioni stradali controllata direttamente dal Ministero dei Trasporti. Il bond è stato emesso due mesi fa (bookrunner: Credit Suisse) per un ammontare di 294 mln USD. Paga una cedola del 9,375% fino al 2024. Ecco la scheda: Cbonds.Info - Bond Issues: Eurobonds National Road Operating and Construction Company, 2024 + MHTWW Agencies - TA
fabrifede
Forumer storico
Camajan
Forumer storico
Mi domando in base a quale criterio logico o tendente al logico hanno inserito lo Zambia e la Tanzania o peggio ancora Trinidad & Tobago (che è anche un paradiso fiscale non tanto distante) nella white list, mentre hanno lasciato fuori la Giamaica.
POD principle ... bella domanda Qquebec ... kissà ki mai ha redatto e kuando lo ha fatto 'sta lista Mah ...
Jamaica Seeks Second Debt Exchange as Bank Reserves Plummet
Jamaican Prime Minister Portia Simpson Miller
Jamaica will restructure local debt for the second time in three years as the Caribbean island struggles to boost economic growth and secure a new accord with the International Monetary Fund.
The government will ask bondholders today to exchange 860 billion ($9.1 billion) of higher interest Jamaican dollar debt for lower yielding bonds, Finance Minister Peter Phillips said in a speech last night with Prime Minister Portia Simpson Miller. While there will be no “haircut” on the principal, investors will face “significant sacrifices,” he said.
“Many of our bondholders, with good reason, will immediately respond to this announcement with a sense of disappointment as they recall they made a similar sacrifice three years ago,” Phillips said. “It will be painful and difficult, but we have no option.”
The drop in interest payments will enable the government to reduce its debt to 95 percent of gross domestic product within seven years from 140 percent today and revive growth, Simpson Miller said. The economy shrank 0.6 percent in the third quarter, the third consecutive contraction, while central bank reserves tumbled to about $1 billion from a peak of $2.6 billion in 2011, the year after Jamaica’s previous restructuring.
“We have not delivered on expectations of growth and development,” the prime minister said. “As long as our debt as a percentage of our economy remains this high, our capacity for growth and development will be severely limited.”
‘Outliers’
Jamaica is one of at least five Caribbean nations to restructure its debt since 2004. Grenada missed a Sept. 15 payment on $193 million of bonds before paying investors within a 30-day grace period. Belize is finishing negotiations on its second restructuring in five years, after missing a $23 million coupon payment in August.
“Belize and Jamaica have been outliers in terms of their very high debt burden, hence they are more prone to seek debt service relief from time to time,” Marcela Meirelles, Latin America strategist at TCW Group Inc. in Los Angeles, which oversees $128 billion of assets, said in an e-mail. “I don’t think there is a broader problem in the Caribbean”
The yield on Jamaica’s local bonds due in 2019 has climbed 15 basis points, or 0.15 percentage point, this year to 9.99 percent. The Jamaican dollar has lost 3.7 percent against the U.S. dollar in the past three months, the worst performance among 20 Latin American and Caribbean currencies tracked by Bloomberg after the Argentine peso.
‘Weak Economic Growth’
“The positive effects of the first debt exchange have been diluted by weak economic growth and weak fiscal performance in the intervening years,” Carl Ross, a managing director at Oppenheimer & Co. in New York, said in an e-mail. “The size of the debt problem would have warranted a broad restructuring that would include domestic and external debt, but clearly the authorities thought the cost of that approach out-weighed the benefits.”
The Caribbean nation swapped $7.8 billion of local bonds for securities with longer maturities and lower interest rates in 2010, when its debt burden exceeded 120 percent of GDP. The accord paved the way for Moody’s Investors Service to raise Jamaica’s credit rating and the IMF to approve a 27-month, $1.27 billion stand-by credit.
“A successful debt exchange will require high participation from creditors to help secure financing assurances for a Fund-supported program,” the IMF said in a statement following yesterday’s announcement. It didn’t give details of its possible accord with Jamaica.
Numbers Say It All
The extra yield investors demand to hold Jamaica’s dollar bonds instead of U.S. Treasuries fell by 49 basis points, or 0.49 percentage point, to 622 as of 11:15 a.m., according to JPMorgan Chase & Co.’s EMBI Global Diversified Index.
Fitch Ratings lowered Jamaica’s credit outlook to negative on Jan. 18, citing the drop in bank reserves. Fitch rates the country B-, six levels below investment grade and in the same category as Ecuador.
Growth in Jamaica’s $14.5 billion economy will accelerate to 1.5 percent in 2017 from 1 percent this year, the IMF said in an October report, the slowest pace among 32 nations in Latin America and the Caribbean.
“The numbers say it all: for every dollar of the budget that we spend approximately 55 cents goes to pay the debt, another 25 cents to pay wages which leaves just 20 cents to fix roads, maintain schools and hospitals and provide other critical services for the Jamaican people,” Phillips said. “It just isn’t enough.”
To contact the reporters on this story: Eric Sabo in Panama City at [email protected]; Veronica Navarro Espinosa in New York at [email protected]
To contact the editors responsible for this story: Bill Faries at [email protected]; Andre Soliani at [email protected].
Jamaican Prime Minister Portia Simpson Miller
Jamaica will restructure local debt for the second time in three years as the Caribbean island struggles to boost economic growth and secure a new accord with the International Monetary Fund.
The government will ask bondholders today to exchange 860 billion ($9.1 billion) of higher interest Jamaican dollar debt for lower yielding bonds, Finance Minister Peter Phillips said in a speech last night with Prime Minister Portia Simpson Miller. While there will be no “haircut” on the principal, investors will face “significant sacrifices,” he said.
“Many of our bondholders, with good reason, will immediately respond to this announcement with a sense of disappointment as they recall they made a similar sacrifice three years ago,” Phillips said. “It will be painful and difficult, but we have no option.”
The drop in interest payments will enable the government to reduce its debt to 95 percent of gross domestic product within seven years from 140 percent today and revive growth, Simpson Miller said. The economy shrank 0.6 percent in the third quarter, the third consecutive contraction, while central bank reserves tumbled to about $1 billion from a peak of $2.6 billion in 2011, the year after Jamaica’s previous restructuring.
“We have not delivered on expectations of growth and development,” the prime minister said. “As long as our debt as a percentage of our economy remains this high, our capacity for growth and development will be severely limited.”
‘Outliers’
Jamaica is one of at least five Caribbean nations to restructure its debt since 2004. Grenada missed a Sept. 15 payment on $193 million of bonds before paying investors within a 30-day grace period. Belize is finishing negotiations on its second restructuring in five years, after missing a $23 million coupon payment in August.
“Belize and Jamaica have been outliers in terms of their very high debt burden, hence they are more prone to seek debt service relief from time to time,” Marcela Meirelles, Latin America strategist at TCW Group Inc. in Los Angeles, which oversees $128 billion of assets, said in an e-mail. “I don’t think there is a broader problem in the Caribbean”
The yield on Jamaica’s local bonds due in 2019 has climbed 15 basis points, or 0.15 percentage point, this year to 9.99 percent. The Jamaican dollar has lost 3.7 percent against the U.S. dollar in the past three months, the worst performance among 20 Latin American and Caribbean currencies tracked by Bloomberg after the Argentine peso.
‘Weak Economic Growth’
“The positive effects of the first debt exchange have been diluted by weak economic growth and weak fiscal performance in the intervening years,” Carl Ross, a managing director at Oppenheimer & Co. in New York, said in an e-mail. “The size of the debt problem would have warranted a broad restructuring that would include domestic and external debt, but clearly the authorities thought the cost of that approach out-weighed the benefits.”
The Caribbean nation swapped $7.8 billion of local bonds for securities with longer maturities and lower interest rates in 2010, when its debt burden exceeded 120 percent of GDP. The accord paved the way for Moody’s Investors Service to raise Jamaica’s credit rating and the IMF to approve a 27-month, $1.27 billion stand-by credit.
“A successful debt exchange will require high participation from creditors to help secure financing assurances for a Fund-supported program,” the IMF said in a statement following yesterday’s announcement. It didn’t give details of its possible accord with Jamaica.
Numbers Say It All
The extra yield investors demand to hold Jamaica’s dollar bonds instead of U.S. Treasuries fell by 49 basis points, or 0.49 percentage point, to 622 as of 11:15 a.m., according to JPMorgan Chase & Co.’s EMBI Global Diversified Index.
Fitch Ratings lowered Jamaica’s credit outlook to negative on Jan. 18, citing the drop in bank reserves. Fitch rates the country B-, six levels below investment grade and in the same category as Ecuador.
Growth in Jamaica’s $14.5 billion economy will accelerate to 1.5 percent in 2017 from 1 percent this year, the IMF said in an October report, the slowest pace among 32 nations in Latin America and the Caribbean.
“The numbers say it all: for every dollar of the budget that we spend approximately 55 cents goes to pay the debt, another 25 cents to pay wages which leaves just 20 cents to fix roads, maintain schools and hospitals and provide other critical services for the Jamaican people,” Phillips said. “It just isn’t enough.”
To contact the reporters on this story: Eric Sabo in Panama City at [email protected]; Veronica Navarro Espinosa in New York at [email protected]
To contact the editors responsible for this story: Bill Faries at [email protected]; Andre Soliani at [email protected].
gualberto
Charlie don't Surf
iguanito
Forumer storico
Conseguente crollo dei titoli jamaicani a francoforte tra i quali c'è quello in scadenza nel 2014 in euro con tagli da 1K che dà un cedola oltre il 10%. Nell'articolo si parla di ristrutturazione del debito LOCALE
iguanito
Forumer storico
Mi devo in parte correggere.A perdere in modo notevole è solo il titolo in euro scadenza 2014. Come mai quelli in dollari non perdono?
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