Talks between a group of global banks and at least one major hedge fund about buying a portion of the fund's exposure to Argentine debt have collapsed, a person familiar with the matter told sources in Buenos Aires, amid concerns that the Argentine government has dug in to its refusal to pay certain creditors what they are owed and may not relent for months to come.
The US dollars climbed to a record 13.15 Pesos on the black or 'blue' market on Wednesday trading as fears mount regarding the outcome of the holdout bonds conflict with the New York court. The official dollar rate closed at 8.2750 Pesos.
The hedge fund Elliott Management secured a victory on Tuesday in its pursuit of Argentine assets abroad, as a court in the US state of Nevada granted the corporation discovery rights to 123 companies allegedly linked to the Santa Cruz public works tycoon Lazaro Baez, and believed to be closely linked to the Kirchner family.
A majority of the Argentine electorate is pessimistic about the consequences of the 'selective default' on the economy, but considers that negotiations with the 'holdouts' must continue, according to a public opinion poll from Poliarquia which also showed that support for president Cristina Fernandez has fallen during the last month.
Thousands of Argentine pro government activists gathered at the Luna Park stadium in Buenos Aires City, to express their support in favor of President Cristina Fernández stand against the so called holdouts (or 'vulture funds') as well as her continuity at the head of the Kirchnerite project.
The Argentine Episcopal Conference expressed deep concern on Tuesday about employment, redundancies, closure of factories, as well as with crime and drugs. The Conference's standing committee met with delegates from the different regions to address the pastoral situation and later a review of socio-economic conditions.
Agents working for Argentina's Federal Public Incomes Administration (AFIP), with a little help from Larishka the dog, found 86,500 dollars hidden by an Argentine who was trying to leave the country for Uruguay.
Argentine president Cristina Fernandez arrived Tuesday evening to Paraguay to begin early Wednesday an official visit which has been delayed several times. Besides the usual agenda discussions and accords signing with her peer Horacio Cartes, the visit will also have a strong symbolism since the Argentine president will be formally returning to Paraguay furniture and other belongings from one of the country's most revered leaders, Francisco Solano Lopez.
Hurricane strong winds on Saturday blew roofs, knocked down lamp posts and trees and left big areas of Ushuaia, Argentina and Puntas Arenas, Chile without power according to reports from both cities in the extreme south of the continent.
A Judge from Argentina's Supreme Court joined the ongoing battle in New York between the Argentine government and the holdouts and slashed out at the US Supreme Court for rejecting to take the case back in June. Eugenio Zaffaroni argued that the conflict must be addressed in the context of attacks from the global financial power on political power.