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Argentina and a group of U.S. creditors announced a deal on Monday in a long-standing debt impasse.
They say a victory for the holdouts would set a precedent for other investors to wreck long-standing debt forgiveness deals with developing countries.
Even so, S&P estimates that the average default rate (as a percentage of all issuers) in the 1990s will be the highest in any decade since the 1830s.Several long-standing debt defaults were setttled in 1997.
Summer so far: Cardiff clear their long-standing debt and make Sam Hammam honorary life president.
Cardiff City FC has reached a deal over its long-standing debt with Langston, club owner Vincent Tan has said.
Cardiff City FC has reached a deal over its long-standing debt with Langston, whose spokesman is Mr Hammam.
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FTSE 250 engineer WS Atkins was also unveiling good news this morning, with growth in the Middle East, and payment of long-standing debts out there, providing an unexpected boost.
Despite her large income, Isabella ran up long-standing debts with the local merchants near the castle.
If the Pasadena Playhouse had decided to adopt a theme song when a dire economy and long-standing debts forced it to cease operations for most of 2010 while it tried to claw its way back to solvency, "Stand by Me," the 1961 pop-soul classic sung by Ben E. King, would have fit the situation precisely.
In the early 20th century, Venezuela was receiving messages from Britain and Germany about "Acts of violence against the liberty of British subjects and the massive capture of British vessels" who were from the UK and the acts of Venezuelan initiative to pay off long-standing debts.
One of their problems, as it would be for any other government, is that it is not just a legacy of private debt and long-standing neglect of productive enterprise that is dragging the economy down.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com