IMF

A poor showing for Argentina's President Mauricio Macri and a surge for his leftist opponent sparked fears of a possible default on the country's IMF loans, sending the peso to its lowest level in nearly two decades and causing a massive sell-off in the country's stock market.

Although Macri, who belongs to the center-right Republican Proposal party, was not expected to do well in Monday's primary, populist Alberto Fernández and his running mate, ex-president Christina Kirchner, scored 15 points higher in their primary for Citizen's Unity.

Fernando Llano / AP via Miami Herald

When the year started, we were astounded to hear Venezuela’s 2018 inflation rate could top 13,000 percent. That’s pretty bad hyperinflation. But Venezuelans now look at that forecast as the good news.

Jamaica Information Service/Prime Minister's Office

These days the Caribbean seems better known for debt ruin than for dark rum.

The region – South Florida’s next-door neighbor – is home to some of the world’s most indebted countries. Since 2010, five of them have defaulted. The government of Puerto Rico, a U.S. territory, may soon shut down thanks to its epic debt crisis.

But Jamaica – whose more than $16 billion debt represents 130 percent of its GDP – may be the Caribbean’s debt champ. And that’s a big reason Andrew Holness is expected to be sworn in this week as the island’s new Prime Minister.