Argentina minister blasts credit rating agencies for putting out “terrorist reports”
Argentine Economy Minister Hernán Lorenzino ratified Wednesday’s down payment of the “Bonar X” dollar-bond for 200 million dollars and blasted credit rating agencies which along with speculators “set terrorist reports in order to make some profit out of it.”
On his Twitter account, the minister wrote on Tuesday morning: “Tomorrow (Wednesday) we (national government) will be paying the Bonar X dollar-bond for 200 million dollars. Thus, we keep paying our debts.”
Likewise, the minister attacked international credit rating agency Moody’s that on Monday issued a negative outlook on the issue of bonds in Argentina after Chaco province paid dollar debts in pesos last week.
“We’d like to deny the statements issued by the credit rating agency since no regulations have been changed in the Argentine bonds market.”
Furthermore, Lorenzino remarked that “Once again, a speculative attack mounted by a credit rating agency and some media groups is directed to us when we are about to meet some debt payments.“
To end Lorenzino indicated that rating agencies walk along with international speculators by setting “terrorist reports” intended to frighten investors.
“Credit rating agencies = Speculators. They want to lower the bond price a day before the payment so they can make some profit out of it. An old pirate trick”, the minister also wrote in Twitter.
Last week in a similar attack Lorenzino questioned the ”credit rating agencies' behaviour“ and the tendentious use of their analysis to develop ”self fulfilling prophecies.“
The minister stated that ”the 2009 and current international financial crisis demonstrate the limitations of the analysis method the rating agencies apply.“
“Credit rating agencies were created to evaluate the debt payments independently but these evaluations have an impact in the debt value they are analyzing, generating negative process as ‘self fulfilling prophecies’”.
The minister took the cases of Argentina and Greece as an example, saying that “in 2009, Greece had the investment grade, before the big crisis, when the subprime. Its rating has been downgraded since 2009 intensifying the crisis.”
In the case of Argentina, he affirmed that “the process has been the other way round, for the last five years we've been rated as a country in a crisis with a high debt risk.”
“For the agencies, Argentina is constantly about to get into a crisis, but Argentina has grown for the last ten years and fulfils its financial obligations” he concluded.
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56 comments Feed
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www.truthinmedia.org/Bulletins2002/2-2.html
Thanks god a new world it’s coming out and we are watching it !!!
And the old one that can not handle the reality, which is out of control, with old fashion, unproductive interventions, in an complete outburst mood all the time; Is passing away very fast!!!
“For the agencies, Argentina is constantly about to get into a crisis, but Argentina has grown for the last ten years and fulfils its financial obligations” he concluded.
High debt risk why's that then. Fulfils it's financial obligations, Yeah right, that's why Ghana has your Ship.
“Argentina blasts credit rating agencies for telling the truth instead of blindly believing INDEC.”
Honestly, can this government get any more pathetic?
I do feel sorry for the honest hard working Argentine who has to put up with this bullsh!t all the time.
Not because someone repeats and repeats that the pigs can fly, they will fly.
You are doing that… The parrot syndrome!!!
People can keep and keep talking and talking about Argentina, as we were important LoL and wish and predict the worst for us. It is all fine.
Meanwhile you are getting better and better... LOL
We just neet to wait!
Your translation device isn't working because your post @5 makes no sense in English.
No, you've paid 200 million dollars out of an estimated debt of 37 billion dollars. That's like p*ssing in the South Atlantic ( makes absolutely no difference whatsoever )....... You are still a load of crooks.
Did Blackbeard use to issue credit ratings to manipulate bond prices?
This is simple. Chaco was supposed to pay back in US$ via a contractual obligation. Pesos carry less inherent 'value' than US$. By not paying in US$ this sent a message that further contractual obligations would be broken with regards to payment in US$. As a result the ratings agencies highlighted this as an issue which increases re-payment risk (which is does). If the government had wanted to avoid this situation, they should have paid back in US$ not pesos. Again, actions have consequences. The action in Chaco had a consequence and the government needs to understand this simple fact. It is pretty basic and to complain about it shows a childlike naivety in relation to international/financial relations.
www.infobae.com/notas/676088-Ataque-vandalico-a-bustos-de-Kirchner-y-Evita.html
Why do Argies have such a fixation with the word 'pirates'?
Ratings agencies provide information that needs interpreting and treating with some caution.You know like a train timetable.Information is not a replacement for intelligence.
It is so embarrassing
I wonder if they will ever grow up
and become
a serious country
I doubt it
I like that analogy Yankee. I think there are so many analogies that can easily be applied to argentina. It's amazing that they are always so shocked at what happens to them. These things do not happen to Brazil, Chile and the like.....just argentina.....two words:
Cuntina Kirchner
Whatever you say. Hurts your pride that Argentina after all that the tricks you britgringoos have tried, after all the laws the European Disunion has concocted, you still can't get the lowly argies to care a cent about you, much less like you.
Sucks to be hated and seen as pervish liars by an entire country of 40 million huh?
You sound incredibly bitter. Like all you ciberkks. Try to enjoy life. After all you are living in Paradise (Argentina) or maybe you arent..
“Sucks to be hated and seen as pervish liars by an entire country of 40 million huh?”
Not in the slightest, though it must suck to be seen as Argentine from the rest of the worlds population, other than Chavez the rest of the world just laugh at you halfwits, and rightly so.
as least in my experience....
Does your mummy know you are on the internet unsupervised?
Big article today in all the newspapers, no matter what amount and for what reason requested travel funds are denied.
Stramge tjat Cuba is relaxing their travel requirements while Argentina puts more on their citizens. Is Argentina the next Cuba?
It is shameful.
If that is true, it is telling the argentinos are not complaining one bit about not being able to go AmeriKKa. I guess they know there's not much to see there.
I thought that the party line was that there was not a problem about being able to leave the country and that dollars were easily available and that these measures were only aimed at those people who earn in the top bracket. Your messages seems to be stating the opposite
@24 Got your US$20 million to get your little boat back, have you? Why would we care about 40 million pervs? Just some THING that needs to be exterminated!
@27 Yes thanks. Got any fuel for the winter?
@29 Let's just be reasonable and sensible. If any latino seen to be attempting to cross the border is shot dead, the problem should be over.
@31 Why? Did she shag you? Did you like it? Was it better than your usual shag? Is your favourite vibrators or strap-ons? But anything will do as long as you get it?
@33 Do we need to respond to an argie faggot? “Argies” are sub-human. And argie sub-human faggots are...........?
If you QUALIFY...
AFIP is only allowing U$6/day to travel outside of the country now.
Hmm where can you go for that?
I hope Rgs like the dirty brown windy beaches of their Atlantic coast. Is the water brown from the effluence from the Riachuelo? Seems like a good way to get really sick. No thanks.
Why do Argies have such a fixation with the word 'pirates'?
The Spanish, who were colonising as much of what is now termed LatAm were plagued with pirates attacking their possessions be it ships or land based settlements and to discourage this the term pirate was synonymous with no quarter and certain death if captured.
The term was sometimes abused to suit the ruling elite in settling scores against those who affronted them. This was the case with the Alamo when about 100 Texians drove all the Mexican troops out of Mexican Texas to the consternation of President General Antonio López de Santa Anna.
These Texians then occupied the Alamo, a Mission building and stayed there. Santa Anna then brought the Mexican Army to recover the Alamo, DECLARING ALL THE DEFEDERS TO BE PIRATES AND THEREFORE TO BE KILLED WHETHER THEY SURRENDED OR NOT.
In reality many of the defenders died defending the Alamo and less than ten surrendered and immediately executed. They did not know about the true meaning of ‘pirate’ it was later claimed.
The effect on the Texians and people from the United States (Texas was not a state at the time) was electrifying. An army was raised and the Mexican Army was defeated just after month from the battle of the Alamo.
Perhaps the argies see themselves as modern day upholders of the Spanish ‘legacy’ and wish to see all the imagined ‘pirates’ dead.
When Houston's army of less than 600 attacked Santa Anna's army of over 1,500, the battle cry forever lives in American history...“Remember the Alamo” . Santa Anna's army fought bravely......for 18 minutes before they surrendered.
All that might be true enough, but the reason Brits are called pirates is a much more simple one. “Pirate” is the one word that best describes a Brit, simpelhen :)
www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
www.youtube.com/watch?v=T8ch4rsMmZI
He is the best!
www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
stopdebtvultures.org.au/?p=447
Don't pay attention to the US and UK civilians they are all considered sponsored content.
www.youtube.com/watch?v=2MQhqL1q8Y4
We can all rest assured the credit rating is sponsored content. In any case it shouldn't matter because Argentina should never be allowed to borrow US dollars, we have a National bank and everything should be quoted in pesos since we Argentines work for pesos, why are we being charged dollars?? No body in Argentina buys in dollars. wait I know who works for US dollars, USA lol that's. Why Argentina is where it is we are paying to keep the US working. Are we paying Argentine's enough to keep them working or are we sending all the money and resources to the english community??
www.truthinmedia.org/Bulletins2002/2-2.html
Get informed, ignore the english man they repeat anything their leaders tell them.
Not to worry conkerer never fails to say something.And of course that wizard of knowledge Lord Ton.37bn,some number.
And by the way, the UK has laws to curtail the activities of vulture funds; ironically if the libertad had docked in the UK, things may have worked out differently.
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..
Hahaheeeeeeee
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