I used to write that the US is fast becoming Venezuela or Argentina. But its now official — the US has greater default risk than Peru!
Credit default swaps (CDS) represent the price of insuring against default. So it is now more expensive to insure against a US debt default than perpetually mismanaged Peru.
Dina Boluarte is the first woman to become President of Peru. She was sworn in following a failed self-coup d’état by President Pedro Castillo which resulted in his impeachment, ousting, and arrest.
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