Argentina

Argentina
Thursday, September 18th 2014 - 05:46 UTC

US dollar at new record in Argentina; Kicillof blames 'holdouts' and the US embassy

The 'blue' dollar closed trading at 15.10 Pesos, with the gap between the two rates increasing to approximately 80%

The informal rate of the US dollar hit a new historic peek on Wednesday in Argentina, breaking the 15 pesos barrier and closing at 15.10 pesos, pushed by rate speculation, and following yesterday’s sharp 25-cents climb. Economy minister Axel Kicillof blamed the 'holdouts' and the US embassy for the latest surge.

Wednesday, September 17th 2014 - 05:20 UTC

US dollar reaches new record in Argentina; the 'Dolar Demichelis' forecasted

On Monday the Central bank reserves were down 184 million dollars

The US dollar in the informal market reached a new record high against the Argentine Peso at the end of trading on Tuesday. Earlier in the day the Central bank reported the biggest one-day drop in its international reserves since July 30.

Wednesday, September 17th 2014 - 05:01 UTC

Pope concerned with political situation in Argentina; meets Cristina Fernandez on Saturday

It will be a “tete-a-tete, a private meeting,” said Karcher, who is also Argentine and worked with the pope when he was archbishop of Buenos Aires.

Pope Francis is concerned about the political situation and governance in his native Argentina, the Vatican's chief of ceremonies said Tuesday ahead of a visit by President Cristina Fernandez on Saturday.

Wednesday, September 17th 2014 - 01:11 UTC

Argentina warns US acting ambassador on 'default' statements and 'deplores lack of support'

Timerman said “Argentina has honored all its commitments in due time and form under the conditions agreed in 2005 and 2010 and will continue to do so.”

United States interim ambassador to Argentina Kevin Sullivan was summoned to foreign minister Hector Timerman's office and was informed of ”the profound and firm rejection of the Argentine government to the US diplomat’s inappropriate statements”, according to the statement from the ministry made public on Tuesday.

Tuesday, September 16th 2014 - 05:36 UTC

Argentine seafood exports up 3.9% in value and 3% in volume in first half of 2014

Shrimp and squid exports from Argentina to the Far East have grown consistently

In the first half of this year, Argentina seafood exports totaled 778.8 million dollars with a slight increase of 30 million dollars, and 3.9% over the same period of 2013 (749.6 million), reported the Directorate of Fisheries Economics from the Fisheries and Aquaculture Under Secretariat.

Tuesday, September 16th 2014 - 02:42 UTC

US insists with Argentina it does not support the UN sovereign debt debate

“It would be much better to work with existing market mechanisms to issue sovereign debt rather than creating a UN convention” said Kevin Sullivan

As Argentine President Cristina Fernandez readies for her annual trip to New York to speak at the United Nations General Assembly, US interim ambassador in Buenos Aires Kevin Sullivan ratified that Washington will not back the UN sovereign debt resolution sparked by Argentina’s legal battle with its holdout creditors.

Monday, September 15th 2014 - 06:23 UTC

Argentina confirms payment to bondholders at the end of September

Kicillof said the coupon will be paid based on a bill approved last week which allows for location transfer

Argentina will pay holders of its restructured sovereign debt, thanks to a bill passed by its Congress last week despite a US court ruling, the country's economy minister told a local radio show on Sunday.

Monday, September 15th 2014 - 05:11 UTC

Gas prices must increase to sustain strong investment levels, says YPF Galuccio

“If gas prices did not increase we would be bankrupt,” Galuccio said in an interview justifying sustained increases along the year

Argentina's YPF oil and gas state corporation CEO Miguel Galuccio pointed out that the increase in gas prices is needed in order to sustain “strong investment levels” for the company and revealed that the cost of drilling a well in the country's massive oil field in Vaca Muerta has fallen below 7 million dollars.

Monday, September 15th 2014 - 05:07 UTC

Free fall for Cristina Fernandez with record negative image and support

The Argentine leader in October 2011 was re-elected with 54% of ballots; now only 26.5% support her

The negative image of Argentine president Cristina Fernandez climbed this month to 43.8%, the highest since last May, according to the latest release of the Management & Fit public opinion polls, published in the Buenos Aires media.

Monday, September 15th 2014 - 04:07 UTC

Spanish Judge Garzon praises Argentina's sovereign payment bill and UN resolution

”The UN’s decision “represents a victory for Argentina and for the countries that are victims of the predatory practices” of international funds, said Garzon

Former Spanish Judge and Human Rights activist Baltasar Garzon praised the Sovereign Payment law approved by Argentina’s Congress last week and described the United Nation’s resolution for the creation of a multilateral legal framework for sovereign debt restructuring process as “essential.”

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