During the same period, commercial banks in Country A, Japan, Europe, and the Middle East continued to lend to Latin American countries such as Mexico, Argentina, and Brazil.
Latin America's debt growth rate has reached 1,000%, and debt is rapidly expanding. This includes a large amount of short-term foreign debt, which has seen interest rates rise with repeated extensions and renewals.
By the early 1980s, the Federal Reserve had raised interest rates to double digits to combat inflation.
For many Latin American countries, their interest rates are constantly rising, external demand is weakening, the strong US dollar has made the prices of export products lower and lower, the economy is weak, and borrowing new money is not enough to repay old debts.
Based on this information, it can be inferred that Latin American countries have reached the end of their rope and are expected to be unable to repay their foreign debts by the end of this month or early August. This is the time for us to take action.”
After listening to Aiden's report, everyone in the conference room was extremely excited. It was already the end of the month and only a few days away from the beginning of August.
Su Nuan spoke up to stop everyone's commotion.
"Action is urgent, comrades. From today on, all teams must monitor the statements of the Latin American prime ministers. If a country declares bankruptcy, we must act immediately. I require all traders to take 24-hour shifts and rest, and be ready for action orders at any time. We must spend $15 billion within three days. All responsible persons will take turns staying in the company for the next few days. Is this clear?"
"Clear, understood, President Su"
After everyone had finished their work, Su Nuan began to deploy and arrange the subsequent plans. The meeting was adjourned only after everything was arranged. When they came out of the meeting room, it was already dark. Su Nuan followed the group to the company cafeteria for dinner.
Su Nuan, Qian Ming and Aiden sat together at the dinner table, chatting about the situation in Latin America while eating. Both of them had quite some insights. After the meal, Su Nuan said goodbye to everyone and took a car back to the Su family villa.
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