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Oil price drop hurts debt nations but helps some
The oil price plunge trims foreign exchange revenue for top debtors like Mexico and Venezuela while easing costs for importers and lowering debt service. Brazil and other non oil exporters gain from cheaper energy, potential tax offsets, and reduced inflation, though risks of defaults persist as Baker Plan funds may be redirected to cushion oil losses.
MENTIONED IN THIS ARTICLE
New York
Manuel Lasaga
Southeast Banking Corp
Miami
Mexico
Venezuela
Nigeria
Brazil
Third World
Robert Heller
International Economic Research
Bank of America
San Francisco
World Bank
Lasaga
Ecuador
Treasury
James A. Baker III
Baker Plan
George Salem
Donaldson, Lufkin & Jenrette
Miguel de la Madrid
Tan Hume
Hume
Argentina
Turkey
Morocco
Ivory Coast