If the default occurs, they’ll only be getting what they deserve. And as an added bonus, the spectacle of a Venezuelan default — the first by a major country since Argentina’s in 2001 — would help convince investors across the world that it’s not good business to invest in state-run companies of repressive regimes.
- Latin America
Traditionally positioned as opponents at opposite ends of the ring—the private sector wanting to make a profit, the public sector wanting to make a difference—UNGA treated both as equals and encouraged them to shake hands instead of throw punches. True, lasting, global change isn’t the responsibility of either party alone, but to move forward, they’re going to have to find some middle ground.