Argentina

Argentina
Wednesday, April 27th 2016 - 10:44 UTC

Paul Singer praises Macri but warns about negative impact from Collective Action Clauses

 The article came days after Singer was invited to write in TIME about Macri as part of the publication’s Most 100 Influential People in the World list

Financier Paul Singer again took to the US media to celebrate Argentine President Mauricio Macri’s decision to settle with the so-called “speculative” creditors, including Singer’s own Elliott Management, with an article in the Wall Street Journal heaping praise on his business-friendly approach and willingness to negotiate with the holdouts.

Saturday, April 23rd 2016 - 10:46 UTC

Treasury Secretary Lew praises Argentina for its reintegration to the global economy

Argentina’s successful final settlement is a testament to the sea change in policy under President Macri, said Treasury Secretary Lew

United States Treasury Secretary Jacob J. Lew celebrated Argentina's return to international markets and reintegration to the global economy, following the final settlement with holdout creditors, which it described as a major milestone not only for Argentina but for the global financial system.

Saturday, April 23rd 2016 - 10:26 UTC

Judge Griesa pleased and gratified the Argentine 15-year litigation with bondholders is over

Judge Griesa asked to make public note of the fact that it gave him the greatest pleasure to be able to exercise his discretion and lift the Injunction

US Federal Judge Thomas said on Friday it gave him the greatest pleasure to be able to exercise his discretion and lift the injunction against Argentina which impeded the payment on defaulted debt.

Friday, April 22nd 2016 - 07:55 UTC

Lan's CEO agrees to pay fine in the US to settle charges involving operations in Argentina

LAN'S CEO, Ignacio Cueto Plaza, did not admit or deny wrongdoing in agreeing to settle civil charges that he violated the federal Foreign Corrupt Practices Act

Chile's LAN Airlines CEO will pay a US$75,000 fine to settle charges that he authorized improper payments to Argentina union officials to persuade them to ease their demands in a labor dispute, the U.S. Securities and Exchange Commission.

Friday, April 22nd 2016 - 07:48 UTC

Singer praises Macri and calls him a great 'reformist' in a Time weekly column

The policies of Argentina’s ruling duo, Nestor and Cristina Kirchner, led to rampant inflation, falling currency value and capital flight,” wrote Singer

United States hedge fund billionaire Paul Singer is a big fan of Argentina’s new president. For one thing, Mauricio Macri doesn’t call him a “vulture lord” or a “bloodsucker,” as his predecessor Cristina Fernández did. More important, the newly elected Macri recently paid Singer’s firm US$2.28 billion in debt.

Thursday, April 21st 2016 - 12:07 UTC

Argentine bill proposes 25% higher penalties for attacks on a teacher

Education minister Esteban Bullrich's plan is to make sure the public showed more “respect” for teachers.

An attack on a teacher would be punished with higher penalties than an attack on any other citizen under proposals in Argentina to raise the status of teaching. It is believed to be the first time teachers would have been given a special legal protection in this way.

Thursday, April 21st 2016 - 11:49 UTC

Monsanto in collision course with the administration of president Macri

Monsanto is set to challenge Argentina’s attempts to retain control over lab analysis to verify the origin of its grain exports.

Monsanto has rejected a request by Argentina for more time to collect monies owed by small farmers for royalties on genetically modified soybean seeds. Argentine agricultural minister Ricardo Buryaile and members of his staff have met with Monsanto representatives, including chief operating officer Brett Begemann to request a waiver on the monies owed.

Thursday, April 21st 2016 - 10:49 UTC

Reporters organization questions media ownership concentration in Argentina

“The new legislation will probably result in a greater concentration of media ownership, especially in the hands of the Clarín media group”

Reporters Sans Frontières (RSF) international organization questioned the abrogation of Argentina’s media law decided by the administration of President Mauricio Macri, warning the new legislation that creates the Enacom agency “favors” concentration of media ownership in the country.

Thursday, April 21st 2016 - 05:11 UTC

Chile downplays Argentina's continental shelf extension which included Falklands and Antarctic territory

“What UN is saying is that there are 200 miles from the Argentine coast limit and they also include Malvinas, which obviously are British territory” said Retamales

A strong controversy is expected following statements from Chilean officials who downplayed the significance of the recent UN continental shelf maritime extension referred to Argentina and which included the Falklands, South Atlantic Islands and Antarctica territory.

Wednesday, April 20th 2016 - 07:10 UTC

Macri pledges “no repeat of the 2012 situation” to Navy's training vessel 'Libertad'

“With great capacity and dialogue” Argentina is back in the world and has managed to become a reliable trustworthy country, said Macri

“You can set sail peacefully, because there will be no repeat of the 2012 situation”, president Mauricio Macri told officers, crew and cadets of the Navy's training tall ship Libertad that is ready to set off for the annual tour. Macri was referring to the incident in Ghana when the vessel was seized on an injunction request from one of the holdout funds litigating Argentina over defaulted bonds.

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