Archive, 1997: Hungry No More

Archive, 1997: Hungry No More

                 From LatinFinance, Number 93  by Judith Evans CEI Citicorp Holdings SA is a child of controversy. It was set up by Citicorp in 1990 to hold the assets the US bank hoped to acquire with the $850 million in distressed Argentine debt paper it held when—and if—state-owned companies were sold off. With that goal in view, Richard Handley, then head of Citibank in Argentina, lunged into the mid-1980s scrum to get government approval for debt/equity swaps. Handley worked magic. The $850 million in debt that was worth roughly 10 cents on the dollar when President Carlos Menem gave the green light for debt/equity s

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