Argentina

Argentina
Wednesday, July 9th 2014 - 07:07 UTC

Falklands experience, according to former Argentine vice-president Cobos

Cobos at Darwin cemetery next to the Lujan Virgin shrine

Fresh back from the Falkland Islands where he spent a week, Argentina's former vice-president and currently lawmaker Julio Cleto Cobos calls for closer links with the Islands, and insists that the “Malvinas Experience” (“Vivir Malvinas”) challenge should not be banned to nobody, rather the contrary.

Tuesday, July 8th 2014 - 08:43 UTC

Indicted Boudou will replace Cristina Fernandez on Argentine Independence Day

Vice-president Boudou has been indicted on several corruption charges regarding the takeover of a money printing company

Controversial vice-president Amado Boudou will fill in for President Cristina Fernández and head Wednesday's Argentine Independence Day celebration in San Miguel de Tucumán. The deputy was entrusted with leading the ceremony following a meeting Monday afternoon at the presidential residence in Olivos, as Cristina continues her recovery from pharyngeal laryngitis.

Tuesday, July 8th 2014 - 08:33 UTC

EU holders of restructured Argentine bonds begin court actions in Belgium

Bondholders sent Judge Griesa a request for clarification on the impact of his pari passu (equal treatment) ruling

Holders of restructured Argentine bonds took to Belgian courts against Euroclear and the Bank of New York last week over their failure to pay out Argentina’s deposit, newspaper Tiempo Argentino (*) reported, citing court documents signed by the funds’ legal counsel.

Tuesday, July 8th 2014 - 08:20 UTC

Leading holdout hedge fund willing to give Argentina more time to negotiate

“The silence from Argentina is deafening. It does not appear serious about reaching a timely resolution of its debts”, said Newman in a FT column.

Elliott Management portfolio manager Jay Newman has revealed that the holdout hedge fund would be willing to give the Argentine government more time to negotiate following the nation's reverse in the US Supreme Court, while criticizing Economy minister Axel Kicillof for not meeting with the so-called 'vulture funds'.

Tuesday, July 8th 2014 - 08:10 UTC

Kicillof meets Pollack requests 'stay' injunction to pay bondholders

The meeting took almost four hours and was followed by a communiqué from the Argentine delegation

Argentine Economy Minister Axel Kicillof held Monday afternoon a meeting that lasted almost four hours with the Special Master appointed by US Judge Thomas Griesa, Daniel Pollack, and requested that an injunction allowing Argentina to pay bondholders be reinstated while negotiations with holdouts developed.

Tuesday, July 8th 2014 - 07:25 UTC

“Without Chile's help, we would have lost the Falklands”, says former RAF intelligence

Fernando Matthei, head of the Chilean Air Force was the man who facilitated Edwards requests

Chile's support for Britain during the Falklands War has been revealed for the first time by the man who was dispatched, with only hours notice, to secure a South American ally, according to an article in the Daily Telegraph credited to Harriet Alexander.

Monday, July 7th 2014 - 23:09 UTC

ECLAC sides with Argentina; calls for Collective Action Clause for sovereign debts

If Argentina were forced to declare a default, no creditors would get paid. If Argentina opted to pay, it could end in another default, argued Barcena

The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, has sided with Argentina in the holdout hedge funds litigation arguing on the need to establish an international mechanism that would allow for the resolution of conflicts of interest caused by sovereign defaults:

Monday, July 7th 2014 - 07:26 UTC

Uruguay Vice-president and Latam UN ambassadors claim US justice took sides

Astori said that the current situation is a disastrous precedent for countries wishing to comply with debt commitments

Latin American ambassadors to the United Nations (UN) and Uruguay's Vice-president Danilo Astori showed their support to Argentina in its dispute against holdout hedge funds. They agreed that the so-called 'vulture funds' are a risk to debtor nations and that they pose a threat to the region.

Monday, July 7th 2014 - 07:17 UTC

Kicillof formally meets 'Special Master' Pollack, but not holdouts delegates

The delegation will ask Pollack how to avoid fresh lawsuits from holders of 2005 and 2010 debt swaps

Economy minister Axel Kicillof is heading the Argentine delegation that on Monday will hold a first formal meeting in New York with “Special Master”, financial expert Daniel Pollack, appointed as mediator by Judge Thomas Griesa in negotiations between the sovereign country and holdout hedge funds, according to a release late Sunday from Buenos Aires.

Saturday, July 5th 2014 - 08:48 UTC

The Economist on Argentina: “The Luis Suarez of international finance”

 Viveza criolla has been a hallmark of Argentine economic policy under both President Cristina Fernández and her late husband and predecessor, Néstor Kirchner.

In its latest edition The Economist writes about Argentina’s debt stand-off, and states this “reflects a teenage attitude that rules are there to be broken”.

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