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Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.
He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.
In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.
Global Real Estate Project
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Argentina is Ill, Perhaps ContageousThe government of Argentina decided to default once again on its current payment to the World Bank due Friday (December 13th, 2002). The default payment of some $700 million was the second time in a row the country missed its commitment deadline thus putting itself off any worth mentioning foreign credit line. The government chief Alfredo Atanasov told the press that his country wouldn't pay its debts until it reaches a deal with the International Monetary Fund. He also reiterated that Argentina would assume the consequences following this decision. So far the fund is very reluctant to play the game on the Argentine's rules, which makes the current default jumping well over into the next year. If the country declaring war on its foreign creditors was one of the poorest states in Sub-Sahara Africa, the world reaction could be that of protest against the inhumane financial institutions mixed with compassion towards their innocent victims. Not paying debts is bad thing of course, but how the creditors could persevere taking their money when only starving people populate the country in focus. A completely different story is when the country in the spotlight is Latin America No.3 economy, a nation with multiple and multibillion trade links with its neighbors and other counties around the globe. When such country is ill, its neighbors can catch flu too. That could most probably be a new version of the same flu that has been caught by Argentina four years ago when its neighbor Brazil decided suddenly and unilaterally to devaluate its currency. The World Bank report says that Argentina's economic crisis has had more or less negative effects on its smaller neighbors* and across Latin America and the Caribbean in 2002. The region-wide GDP has contracted this year by 1%, which is bad news both for the local governments and for the foreign investors and exporters. Trade relations with the USA and EU are crucial for the Latin America economic development. For the economy in Europe 2002 was a bad year, for the USA the last 12 months were far below its best achievements. Thus the foreign market environment didn't help Latin America, badly hit by the low commodity prices**. The quickest way to improve the economic situation in the region would be to increase the export and/or to lower the taxes, that means tightening the budget discipline. The first depends on the recovery in North America and Western Europe, the second rests with the IMF will to impose its rules on the bad students. To stop paying bills is no solution.
----- ** - In 2002 sugar fell by 21%, arabica coffee by 3%, bananas by 9.1%, aluminum by 7.2%, and copper by 2.1%.
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See also the directory of companies providing real estate services in, and general real estate information of Argentina.
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