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☆ For Bispo do Rosario, Art Could Only Be a Divine Calling
▼ + stars: | 2023-05-05 | by ( Roberta Smith | ) www.nytimes.com time to read: +1 min

Arthur Bispo do Rosario, a former Marine Corps signalman, boxer, tram cleaner and domestic worker in Rio de Janeiro, had no interest in defining his extensive activities as art. In 1964, he landed back at Juliano Moreira where he remained until his death in 1989 at age 80, working compulsively to prepare for Judgment Day. Bispo and his work gradually became known in Brazil, earning attention from art critics, curators and documentary filmmakers in the 1980s. Wider fame began when he was one of two artists whose work represented Brazil at the 1995 Venice Biennale (the other was Nuno Ramos). Bispo’s efforts were then seen in important surveys like the 2013 Venice Biennale, and a 2003 retrospective in Paris.

☆ Summer movie preview 2023
▼ + stars: | 2023-05-05 | by ( Dan Heching | ) edition.cnn.com time to read: +12 min

CNN —Most moviegoers can pinpoint one summer movie – or perhaps, a summer of movies – in their formative years that really and truly cemented their love for going to the cinema, whether it be 1975’s “Jaws,” “E.T. And while streaming has clearly siphoned off part of the audience, particularly for more serious films, what we think of as “summer movies” still have the potential to rake in cash just like the old days. (CNN and DC are both part of the same parent company, Warner Bros. Courtesy Warner Bros. PicturesInitially meant for streaming platforms, this vehicle will herald the cinematic arrival of DC Studios’ first Latino superhero, played by Xolo Maridueña of “Cobra Kai” and “Parenthood” fame. If the fast-paced trailer is any indication, the movie looks sure to whisk those dog days of summer doldrums away quite nicely.

NEW YORK/LONDON, May 3(Reuters) - Suriname's government and international bondholders reached a deal to restructure nearly $600 million in debt, three sources with knowledge of the deal said on Wednesday. Suriname has two marketable bonds outstanding totaling just under $600 million . Neither the government nor the creditor committee immediately responded to requests for comment on the deal. Last month, the International Monetary Fund said it was working closely with Suriname authorities to bring their financing program back, while looking for progress in government talks with China, a key creditor. The IMF and Suriname engaged in a financing program for nearly $700 million in late 2021, but it stalled after the first review was approved more than a year ago.

☆ MLB roundup: Guardians rally in 9th to stun Yankees
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +5 min

[1/5] May 1, 2023; Bronx, New York, USA; Cleveland Guardians first baseman Josh Naylor (22) hits a two run single in the ninth inning against the New York Yankees at Yankee Stadium. After Peralta struck out Andres Gimenez, Zunino fouled off three straight pitches before drawing a walk on a low pitch. It was his third career multi-home run game. Atlanta starter Spencer Strider (4-0) pitched five innings and allowed four runs on five hits, three walks and eight strikeouts. Lane Thomas homered with two outs in the second inning for Washington's run.

☆ MLB roundup: White Sox surge past Rays, snap 10-game skid
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +12 min

[1/6] Apr 30, 2023; Chicago, Illinois, USA; Chicago White Sox first baseman Andrew Vaughn (25) watches his game-winning three-run home run against the Tampa Bay Rays during the ninth inning at Guaranteed Rate Field. Christian Bethancourt added a solo homer and two RBIs. Orioles 5, Tigers 3Adam Frazier and Jorge Mateo hit solo home runs and visiting Baltimore continued its dominance of Detroit. Evan Phillips closed out the ninth inning to earn his third save. Reliever Zack Thompson (1-2) allowed two runs on one hit and two walks while retiring just two batters.

☆ Top moments from the White House Correspondents Dinner
▼ + stars: | 2023-04-30 | by ( Kaanita Iyer | ) edition.cnn.com time to read: +6 min

Washington CNN —President Joe Biden joked about a range of topics at the White House Correspondents Dinner on Saturday but struck a serious tone as he called for the release of wrongfully detained Americans abroad. In attendance Saturday evening was Brittney Griner, the WNBA star who was freed from Russia late last year after being wrongfully detained. Biden and First Lady Jill Biden held a pull-aside meeting with Griner and her wife at the event, per the White House pool. During the event, identical twin brothers Drew and Jonathan Scott, who host “Property Brothers” on HGTV, drew big laughs as their sketch-style video showcased how they would renovate the White House. “We’ve been doing this a long time and we think we know how to turn the White House into the White Home,” the pair said in video.

☆ MLB roundup: Zac Gallen extends scoreless run in D-backs' win
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +11 min

Arizona's Emmanuel Rivera had an RBI single among his two hits and scored a run. Evan Longoria also had an RBI single for the Diamondbacks, who won two of the three games in the series after losing four of their previous five contests. Padres 5, Cubs 3Fernando Tatis Jr. ripped a two-run single in the seventh inning to give San Diego the lead for good in its win in Chicago. Tatis added an insurance run with an RBI single in the ninth. Rodolfo Castro added a two-run single, and Bryan Reynolds, Andrew McCutchen and Ji Hwan Bae each had an RBI single for the Pirates.

☆ MLB roundup: Astros drop Rays to 14-1 at home
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +13 min

Andrew McCutchen hit a three-run homer, Ke'Bryan Hayes a two-run double and Carlos Santana and Austin Hedges an RBI single apiece for the Pirates. Texas built a six-run lead before Nick Senzel put Cincinnati on the scoreboard with an RBI single in the seventh inning. Ruiz's homer and Joey Meneses' RBI single in the third against Jose Butto (0-1) provided an early cushion for Gray. The Brewers got single runs in the third and fourth, then pulled within 4-3 when Rowdy Tellez opened the sixth with his eighth homer. With two outs during Chicago's four-run eighth, Gomes lined an RBI single to right field for his fifth career four-hit game.

☆ Brazil woos sceptical foreign investors with new fiscal plan
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +4 min

Rebounding commodity prices and a hawkish, independent central bank made Brazil an emerging market investor darling last year. But stocks are in the red in dollar-terms (.MIBR00000PUS) in 2023 compared to small gains in wider emerging markets (.MSCIEF) and a more than 20% rise in Mexico's equities (.MIMX00000PUS). "It feels to me like there are a lot of things that can go wrong," said William Jackson, chief emerging markets economist with Capital Economics. Ronaldo Patah, chief investment officer Brazil at UBS Wealth Management, said that despite uncertainties, Lula's fiscal reform suggested he had shifted his focus to the future -- and away from unravelling previous reforms. "Foreign investors have goodwill for Brazil - they want to invest."

LONDON, April 21 (Reuters) - Zambia will send its first fully-formed debt restructuring plan to China and other government creditors "very soon" the government's legal advisors said, as it looks to capitalise on fresh momentum seen in high-level talks in recent days. "We are hoping to provide a restructuring proposal to the official creditors (committee) very soon," Melissa Butler at White & Case, the law firm advising Lusaka on the restructuring, told Reuters, adding that meant the "coming weeks". "We want to start talking about concrete proposals about what debt relief would look like." Zambia is hoping for more than $8 billion of debt relief and Hichilema recently warned that if the restructuring was not able to be concluded soon, it would "tarnish" the tough fiscal reform measures the government has been undertaking. Zambia's restructuring has a wider importance too.

WASHINGTON, April 14 (Reuters) - A committee of Sri Lanka's international private creditors sent its first debt rework proposal to the country's authorities regarding more than $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter. It is the first bondholder proposal after the island nation of 22 million people defaulted on its debt a year ago. A spokesperson representing the creditor committee declined to comment. Bondholders and government officials met in Washington this week, with legal and financial advisers for both sides present, two sources said. China, Sri Lanka's biggest bilateral creditor, did not join the announcement even though it holds the key to solving debt woes for some low- and middle-income countries.

WASHINGTON, April 14 (Reuters) - A committee of Sri Lanka's international private creditors sent its first debt rework proposal to the country's authorities regarding over $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter. It is the first bondholder proposal after the island-nation of 22 million people defaulted on its debt a year ago. A spokesperson representing the creditor committee declined to comment. China, Sri Lanka’s biggest bilateral creditor, did not join the announcement. Sri Lanka secured last month a $2.9 billion program from the International Monetary Fund to tackle its huge debt burden.

"Financial support is very necessary, as well as military support," he said, acknowledging growing acceptance that the military conflict could drag on. "We should be ready that this war will last longer than we expected,” he said, noting that G7 partners were no longer pushing Ukraine to accept an end to war - as they had last year - but were now signaling their support for a longer conflict. Marchenko said there was also growing openness among donor countries to explore using Russia's frozen assets to pay for Ukraine's reconstruction than even six months ago. "Our partners are thinking about the possibility of using Russian assets as a necessary tool to support Ukraine. Marchenko said U.S. Treasury officials had told him the United States had a low amount of Russian assets, but the issue was of greater concern in Japan, Switzerland and EU countries.

WASHINGTON, April 14 (Reuters) - Zambia last week gave its bondholders a "concrete proposal" for the restructuring of some $3 billion in eurobonds, the ministry of finance and national planning said on Friday. "We continue to engage actively with our bondholders and proposals are being exchanged," the ministry told Reuters in a statement. The proposal "represents our commitment to finding a resolution that is acceptable to all parties and within the parameters set out by the IMF debt sustainability analysis." Zambia defaulted on its overseas debt in 2020 and is working on a restructuring with bilateral creditors and private bondholders, but talks have dragged amid a lack of consensus on how to provide debt relief. Internationally we need to pool our voices together for a stronger response ... We need a stronger response on a global stage."

☆ Argentina seeks to issue up to $1.2 bln in bonds, ministry source says
▼ + stars: | 2023-04-14 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +1 min

The World Bank and CAF-Development Bank of Latin America could not be immediately reached for comment. The operation, which would take place in the coming weeks, would guarantee 60% of the issuance, and the notes would have a maximum maturity of five years, said the ministry source, who asked not to be identified. The intention is to issue two separate bonds, each with its own backing, for up to $600 million each, the source said. "What (the guarantee) allows is for the interest rate to be set on the qualification of the banks" and not Argentina's, said the source. The South American economy is also seeking $500 million of fresh financing from the World Bank, the source added, additional to the $2.5 billion the multilateral lender already has already committed for 2023.

☆ Argentina looking to issue up to $1.2 bln in bonds backed by World Bank, CAF -ministry source
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, April 14 (Reuters) - The Argentine government is in talks to issue two dollar-bonds for up to $600 million each with separate guarantees from the World Bank and the CAF as collateral, a source from Argentina's Economy Ministry said on Friday. The World Bank and CAF-Development Bank of Latin America could not be immediately reached for comment. The operation, which would take place in the coming weeks, would guarantee 60% of the issuance, and the notes would have a maximum maturity of five years, said the ministry source, who asked not to be identified. The push is to issue two separate bonds, each with a separate backing, for up to $600 million each, the source said. "What (the guarantee) allows is for the interest rate to be set on the qualification of the banks" and not Argentina's, said the source.

It remains uncertain, however, whether Sri Lanka's biggest bilateral creditor - China - will join the initiative launched by Japan, this year's G7 chair, with the aim of kicking off a series of meetings among Sri Lanka's creditors. "I hope the creation of this platform will become a model case" for debt restructuring of middle-income countries, Suzuki said. Sri Lanka owes $7.1 billion to bilateral creditors, according to official data from its government, with $3 billion owed to China, followed by $2.4 billion to the Paris Club and $1.6 billion to India. The government also needs to renegotiate more than $12 billion of debt in eurobonds with overseas private creditors, and $2.7 billion on other commercial loans. Sri Lanka kicked off talks to rework part of its domestic debt this month and aims to finalise the deal by May.

WASHINGTON, April 13 (Reuters) - Japan, India and France on Thursday announced a common platform for talks among bilateral creditors to coordinate restructuring of Sri Lanka's debt, a move they hope would serve as a model for solving the debt woes of middle-income economies. It remains uncertain, however, whether Sri Lanka's biggest bilateral creditor - China - will join the initiative launched by Japan, this year's G7 chair, with the aim of kicking off a series of meetings among Sri Lanka's creditors. Sri Lanka owes $7.1 billion to bilateral creditors, according to official data from its government, with $3 billion owed to China, followed by $2.4 billion to the Paris Club and $1.6 billion to India. The government also needs to renegotiate more than $12 billion of debt in eurobonds with overseas private creditors, and $2.7 billion on other commercial loans. Sri Lanka kicked off talks to rework part of its domestic debt this month and aims to finalize the deal by May.

Pemex, which had financial debt totaling nearly $108 billion at the close of last year, pays a profit sharing rate (DUC) - effectively a tax paid to the government - of 40%. Delaying Pemex's payment of the DUC should give the oil giant some $2 billion in cash flow, said Yorio. "We can do this quickly to provide liquidity to Pemex, not through a capitalization, but by allowing it not to immediately pay the royalty, the profit sharing rate," said Yorio. Separately, Yorio said Mexico would not need to issue debt to finance its $6 billion deal to buy 13 power plants from Spanish energy company Iberdrola (IBE.MC). Lopez Obrador has described the deal, which will boost state power utility Comision Federal de Electricidad's (CFE) market share to nearly 56% of Mexico's total power generation from about 40%, as a "new nationalization".

☆ Argentina seeks to issue up to $1.2 billion in bonds, ministry source says
▼ + stars: | 2023-04-14 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +1 min

REUTERS/Ken CedenoWASHINGTON, April 12 (Reuters) - Zambia could lose gains achieved so far from macroeconomic reforms if its ongoing debt restructuring is further delayed, Treasury Secretary Felix Nkulukusa said on Wednesday. The next IMF payout to Zambia from the loan is contingent upon its bilateral creditors reaching an agreement on the long-delayed debt restructuring. The country recently completed the first review of the programme, and the next one is expected in about three months. Ceyla Pazarbasioglu, director of the IMF's Strategy Policy and Review Department, was more optimistic about Zambia's debt restructuring during the panel. The IMF official said that creditors have asked to share and exchange information "sooner" during debt restructuring talks, and added that the Washington-based lender is willing to do so.

☆ MLB roundup: Rays make it 12 straight wins to open season
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +10 min

In his third start of the season, Boston's Chris Sale (1-1) was hit hard, yielding six runs (five earned) on seven hits. Detroit left-hander Eduardo Rodriguez allowed one run, seven hits and one walk in six innings, striking out three. Cincinnati's Hunter Greene worked six innings and allowed three runs on seven hits to go along with a season-high 10 strikeouts. Marlins starter Edward Cabrera allowed seven hits and two runs with four strikeouts and one walk in five innings. Eovaldi (1-2) allowed six runs on 10 hits with no walks and seven strikeouts over five innings.

WASHINGTON, April 13 (Reuters) - Angola's next sovereign debt issuance will be an ESG bond of up to $1 billion, its finance minister told Reuters on Thursday, but she added that the southern African oil producer's government would not tap the market this year. "We are open to get funding from whoever is interested to participate," she said. But any ESG issuance will be the first one for us, so we want to start with the hard work." "We are very cautious about the moment to step into the markets because we want to stabilise our debt," she said, noting the current challenging market conditions. Reporting by Leika Kihara; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Ethiopia seeking $2 billion under IMF program, sources say
▼ + stars: | 2023-04-13 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +2 min

WASHINGTON, April 13 (Reuters) - Ethiopia is in talks with the International Monetary Fund (IMF) to borrow at least $2 billion under a reform program, four sources familiar with the matter told Reuters. In this first debt analysis, the IMF calculated that Ethiopia is set to face a financing gap of at least $6 billion until 2026, according to two sources close to the negotiations. That would still leave a funding hole of roughly $4 billion over that period should the country succeed in securing the amount under discussion. Talks are still ongoing in Washington this week during the IMF and World Bank spring meetings. "The scope of the support for Ethiopia is yet not set in stone, both parts are still working on the debt sustainability analysis," one of the sources said.

REUTERS/Elizabeth FrantzApril 13 (Reuters) - The International Monetary Fund is working closely with Suriname authorities to bring their financing program back, while looking for progress in government talks with China, a key creditor, an IMF official said on Thursday. The IMF and Suriname engaged in a financing program for nearly $700 million in late 2021, but it stalled after the first review was approved more than a year ago. "The authorities are here right now, we're having discussions with them," Chalk said, adding that he looks forward for a mission visit soon to "deepen those discussions." "Having some more progress on the debt restructuring talks with China would really help us with the program, and help the country," he said. Reporting by Rodrigo Campos and Jorgelina do Rosario; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

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