Topics
Buy Tickets
BEST OF BASH

Argentina

Argentina pays off 'holdout' bondholders, elevating hopes for economy

In recent years, soybean farmer Mario Caceres had to pay interest rates of up to 50% on the bank loans he needed to buy planting equipment, supplies and seeds — a cost that stymied his plans to expand the business.

Now, Caceres sees a brighter future. He expects interest rates to decline significantly, allowing him to build new grain silos and buy a fleet of trucks for his 2,500-acre farm in San Miguel del Monte, 100 miles west of Buenos Aires.

"If Argentina keeps doing the right things, interest on bank loans will come down," Caceres said.

His optimism comes from Argentina's resolution of a dispute with foreign creditors dating back to its 2002 default...

Loading
49°