The Argentine Central Bank received this week the second part of a multi-billion dollar currency swap with China’s Central Bank, worth the equivalent of 508 million dollars. The swap allowed Argentina to bolster its foreign reserves, which rose 506 million and closed at 28.785 billion dollars.
Despite the ten days of convalescence ordered by her doctors, Argentine President Cristina Fernández continued with an official schedule in Olivos and met on Tuesday with key members of her cabinet.
The official communiqué of the G20 summit released at the end of the bloc’s meeting in Brisbane, Australia, included a paragraph on sovereign debt restructuring process, as requested by Argentina. Economy Minister Axel Kicillof and Foreign Minister Héctor Timerman celebrated it and described it as ‘historic’.
Demands against Argentina by so-called “me-too” bondholders, who are asking to be paid in the same conditions as Elliot and Aurelius Managment holdouts, are starting to pile up as holders of Argentine bonds issued under German law who didn’t take part of the country’s debt swap filed a new complaint at a United States court to demand full payment.
This week the government will be announcing the date President Cristina Fernandez will resume her official duties, Cabinet Chief Jorge Capitanich said. The head of state had to be hospitalized for a week due to a sigmoiditis condition (an inflammation caused by an infection of the colon), currently remaining at the Olivos presidential residency.
Ushuaia, the world's southern most city and gateway to Antarctica cruises expects this 2014/2015 season an estimated forty vessels and 295 calls, according to Tierra del Fuego province port authorities. As usual the first vessel to arrive was Chilean flagged Stella Australis with 210 passengers, at the end of September, which is also expected to close the season in April next year.
The Argentine government has strengthened its control over the expenditure and income of currency in foreign trade through the creation of the Tracking and Tracing of Foreign Trade Transactions Unit, responsible for monitoring “prices and quantities of exported and imported goods and services, as well as foreign currency income/expenditures.”
The United Kingdom contributions mostly through World Bank loans and aid to Argentina have again been questioned in Britain with demands on Prime Minister David Cameron to block British taxpayers cash going to the country which has 'precarious finances' and a long standing demand over the Falkland Islands sovereignty.
Thousands of people participated Sunday in a race organized by Argentina's government to press for a dialogue with Britain over the Falkland Islands, officials said.#YoCorroPorMalvinas was a success! More than 10 thousand people came out today to say Yes to a dialogue for the Malvinas, Malvinas Islands Affairs Secretary Daniel Filmus said in a Twitter post.
A reliable universally accepted rate of inflation in Argentina seems hard to come by although there are a battery of estimates, each of them arguing they are supported by statistically proven methods and thus the certainty of the indexes released.