In times of crisis, a head of state who gets re-elected in the first round, having already served two terms, is a rarity indeed. One such is Evo Morales, whose win, with 61% of the vote, should have received more attention than it did. All the more so since he pulled off this electoral feat in Bolivia which had five different presidents between 2001 and 2005. His victory follows a 25% reduction in poverty, an 87% real-terms increase in the minimum wage, a lowering of the retirement age (...)

Emerging economies need to issue their state bonds in financial centres where the law blocks vulture funds from profiting from financial woes. New York is off the list.