Argentina

Argentina
Monday, September 29th 2014 - 22:26 UTC

Ambassador Castro thanks British unions for support in 'vulture funds' and Malvinas disputes

Ambassador Castro addressing the UK Communication Workers Union’s (CWU) Annual Women’s Congress, held last Saturday in Leeds.

In a speech delivered to over three hundred trade union delegates, Argentine ambassador in London Alicia Castro thanked the British unions for their support in fighting the 'vulture funds' and in backing the call for dialogue on the question of the Falklands/Malvinas, while praising progress made by Argentina regarding the role of women.

Monday, September 29th 2014 - 21:16 UTC

Judge Griesa declares Argentina in contempt of court, but deferred financial penalties

Griesa ruled Argentina had not followed court's orders following the passing of a law which seeks to remove BONY Mellon as financial intermediary to pay bondholders

New York district judge Thomas Griesa declared on Monday Argentina in contempt of court, due to the country's actions in attempting to change debt jurisdictions as a result of the ongoing judicial conflict with holdout investors presided over by the US magistrate.

Monday, September 29th 2014 - 09:09 UTC

Record soybean and wheat crops forecasted by the International Grains Council

Wheat on pace for a record worldwide crop as yields out of Europe, China and the Commonwealth of Independent States

The 2014-2015 season’s soybean and wheat crops are on track to set records, while rice and corn look poised to be more in line with last season’s record crops, according to the International Grains Council's September Grain Market Report.

Monday, September 29th 2014 - 08:39 UTC

Argentine stats on economic growth again come under suspicion

Official Indec figures released last week showed GDP growing 0.9% in the second quarter, up from a contraction of 0.5% in the quarter before

Argentina’s government released some hopeful economic statistics last week with numbers showing that the economy climbed out of recession in the last quarter. But with skepticism over the numbers, combined with a free-falling peso, in light of Argentina’s debt dispute with holdout creditors, economists still have a grim outlook the Mercosur member economy.

Saturday, September 27th 2014 - 09:24 UTC

Argentina lashes Griesa for not making a final decision on the Citibank dispute

Kicillof argued that with one-off payment order, Griesa is harming Argentina and bond holders, which are hostage of the 'vulture funds'

Argentina's Economy minister Axel Kicillof lashed out at US Judge Thomas Griesa after he authorized Citibank a one-off payment of Argentine bonds' coupon next Tuesday saying he once again failed to address the heart of the issue and also in fact recognized that bonds under Argentine law do not belong to his jurisdiction.

Saturday, September 27th 2014 - 09:12 UTC

Griesa allows Citibank to process a one-off payment of Argentine bonds

Citibank can now make payment and has three months before the next payment by Argentina on 31 December for 262 million dollars is due

US District Judge Thomas Griesa has enabled Citibank to process a one-off payment on US dollar-denominated bonds issued under Argentine law, during a hearing held at Manhattan federal court on Friday.

Saturday, September 27th 2014 - 08:13 UTC

Guest post: the UN is not the solution for a rogue debtor

UN resolution 2065/1965 urged London and Buenos Aires to negotiate Falklands/Malvinas sovereignty but nearly 50 years later the Islands continue disputed

By Arturo Porzecanski of American University (*) - Jose Antonio Ocampo, a former United Nations official and co-president with Prof. Joseph Stiglitz of Columbia University’s Initiative for Policy Dialogue, which promotes the adoption of heterodox economic policies in developing countries, recently wrote a guest post welcoming a UN General Assembly resolution calling for the launch of negotiations on a multilateral framework for sovereign debt restructuring.

Saturday, September 27th 2014 - 07:59 UTC

UN Human Rights Council sides with Argentina condemns 'vulture funds'

“Vulture funds will not stop until we put the break on,” Argentina Foreign Minister Hector Timerman

The United Nations Human Rights Council meeting in Geneva on Friday adopted an Argentine-fueled resolution which condemns the so called 'holdouts' or “vulture funds”, currently in a legal dispute against the country.

Saturday, September 27th 2014 - 06:11 UTC

US/Argentina are going through 'a difficult period'; Timerman downplays situation

“Right now we are going through a difficult period in our relationship, but we hope we can still develop a positive tie with Argentina,” Jacobson said

US Assistant Secretary of State for the Western Hemisphere Roberta Jacobson has said the bilateral relationship with Argentina is going through a “difficult period”, but stated the legal battle between that country and holdouts is not a “political problem” but a “judicial problem.”

Friday, September 26th 2014 - 16:44 UTC

Germany takes distance from 'holdouts' controversy and praises Argentina

Capitanich lashed out at Germany's finance minister, denouncing Berlin's “hostile attitude” toward Argentina's debt restructuring effort.

Angela Merkel’s administration attempted to lower tensions with the Argentine government on Thursday following controversial statements made by German Finance Minister Wolfgang Schauble regarding the so called 'holdouts' or 'vulture funds' conflict.

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