Argentina

Argentina
Thursday, August 14th 2014 - 06:34 UTC

Talks between global banks and Argentine creditor hedge fund “collapsed”

Elliott Management hedge fund and JPMorgan, Citigroup, HSBC, and Deutsche Bank were in negotiations

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.

Thursday, August 14th 2014 - 06:11 UTC

Argentina: US dollar reaches a new record of 13.15 Pesos in Buenos Aires 'blue' market

The market fears that central bank president Fabrega might have lost the battle with Kicillof (R)

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.

Thursday, August 14th 2014 - 05:41 UTC

US Nevada court grants 'holdouts' discovery rights into assets of Kirchner family friends

“Campagnoli authored a report stating that Baez laundered 65 million dollars through 15 Nevada corporations”

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.

Wednesday, August 13th 2014 - 22:29 UTC

Majority of Argentines fear consequences of the default and favor continuing negotiations

Support for Cristina Fernandez has also dropped during the last month in parallel with the ongoing drop in consumers' confidence

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.

Wednesday, August 13th 2014 - 06:57 UTC

“Homeland or Vultures” militants rally in support of Cristina Fernandez

“Cristina Fernandez de Kirchner's leadership is guaranteed beyond 2015” said Andres Larroque, head of the Kirchnerite youth, La Campora

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.

Wednesday, August 13th 2014 - 06:08 UTC

Argentine Church concerned with employment and redundancy conditions

“Bishops are concerned with employment instability, redundancies, suspensions and the closure of factories”, said Jorge Oesterheld

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.

Wednesday, August 13th 2014 - 05:46 UTC

Larishka sniffs 86.000 dollars from car heading of a ferry to Uruguay

The ferry was only 15 minutes from departure when the dog found the 86.500 dollars in one of the engine's filters

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.

Wednesday, August 13th 2014 - 05:28 UTC

Finally Cristina Fernandez is on an official visit to Paraguay

The Argentine president will be returning Triple Alliance war trophies: furniture and other belongings from Mariscal Francisco Solano Lopez

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.

Monday, August 11th 2014 - 07:46 UTC

Blackouts, trees and posts knocked down by gales in Ushuaia and Punta Arenas

In Ushuaia even the tourist train was blown over

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.

Monday, August 11th 2014 - 01:54 UTC

Argentina/holdouts, a clash between 'global financial power and political power'

Supreme Court Judge Zaffaroni: the major scandal is not Griesa, a provincial judge, but the US Supreme Court

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”.

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