Argentina

Argentina
Monday, January 18th 2016 - 08:15 UTC

Petrobras increased pre-salt oil production by 56% during 2015

Production from the highly promising pre-salt region, meanwhile, rose to an average of 767,000 bpd, up 56% from the previous year and a record high

Brazil's state-controlled oil company Petrobras said it increased its crude production last year by 4.6% relative to 2014, exceeding the target set forth in its business plan for the first time in 13 years. Oil output in 2015 amounted to an average of 2.128 million barrels per day (bpd), up 0.15% from the 2.125 million bpd forecast by the company.

Monday, January 18th 2016 - 05:52 UTC

All negotiations with holdout funds will be made public, announced Argentina

“Finance Secretary Luis Caputo told the mediator that any offer that will be made by Argentina will be done in public to guarantee the transparency of the process”

Argentina announced that all the details of the negotiation with the speculative funds, taking place in New York, will be made public in order to guarantee the transparency of the process. The news from the Finance Ministry dismissed reports that the holdouts were demanding the Argentine government sign a confidentiality agreement before talks can begin.

Friday, January 15th 2016 - 07:31 UTC

Departing Spanish minister joins Argentine bandwagon claiming 'Malvinas dialogue'

The Pope holding the Malvinas dialogue poster. His secretary said the sign was put in his hands by Argentine visitors to the Vatican

Spanish Foreign Secretary Jose Manuel Garcia Margallo has delivered what could possibly be his last comment on Spain’s claim to Gibraltar’s sovereignty in his current role. The official has jumped on the bandwagon of a new Argentine platform seeking international support for the return of the Falkland Islands and urging UK to agree to bilateral talks over Gibraltar’s sovereignty.

Thursday, January 14th 2016 - 06:54 UTC

Argentina needs to reach an agreement with holdouts, insists Prat-Gay

Finance Minister Alfonso Prat-Gay said the negotiations would be tough but it was in Argentina's interests to reach a deal.

Argentina's new finance minister said on Wednesday it was imperative to resolve the country's legal dispute with U.S. creditors over unpaid debt because financing of the country's fiscal deficit this year may depend on progress on the issue.

Thursday, January 14th 2016 - 06:42 UTC

Argentina targets 25% inflation and fiscal deficit of 4.8% of GDP this year

Argentina ended 2015 with an inflation of 28%, with the last three months reaching almost 30%, said minister Prat-Gay.

Argentina Finance Minister Alfonso Prat Gay revealed on Wednesday that the fiscal deficit registered in 2015 was of 5.8% of GDP and 7.1% of GDP is all debts are computed, and complained that “there has been wasteful spending and when there is an expense it’s not well done.”

Tuesday, January 12th 2016 - 07:24 UTC

Sour victory for Macri: all fugitives captured after 15-days on the run; 'the whole system is rotten'

Brothers Martin and Cristian Lanatta  and Victor Schillaci, convicted of drugs-related killings, escaped from a top security jail on Dec. 27 in a prison break

Fifteen days of a major embarrassment for the government of Argentine president Mauricio Macri came to an end on Monday after police commandos recaptured two of the country's most notorious convicts in a rice mill plant, ending a 15-day manhunt through backwater towns and two provinces.

Monday, January 11th 2016 - 13:50 UTC

Argentina and Uruguay praise new spirit in relations and “return to normality”.

“It was a very cordial meeting that had concrete results,” Malcorra said in an interview with Mitre radio station.

Foreign Minister Susana Malcorra said that the meeting between President Mauricio Macri and his Uruguayan counterpart Tabare Vazquez last Thursday symbolized a “return to normality” for bilateral relations between the two neighbours.

Monday, January 11th 2016 - 12:51 UTC

Argentina's financial agenda: talks with holdout funds and farmers' dollars

Finance Secretary Caputo will travel to New York and meet with court-appointed mediator Daniel Pollack and representatives from the so-called holdout  funds.

A challenging financial week takes off for Argentina's new administration of president Mauricio Macri: on the one hand Argentine farmers have to keep their part of the deal by providing the central bank with 400 million dollars a week, and on the other the long-awaited debt talks are expected to resume in New York next Wednesday with United States hedge funds suing Argentina over defaulted sovereign bonds.

Friday, January 8th 2016 - 18:13 UTC

Macri's Argentina forecasted to grow 0.7% this year and rebound to 1.9% in 2017

“The new government in Argentina is expected to implement monetary and fiscal tightening in 2016, pushing a rebound in growth to 2017”, says World Bank

The World Bank lowered its forecast for Argentine growth for the next two years, noting it expected the economy to see a large rebound in 2018 thanks to the monetary and fiscal policies implemented by President Mauricio Macri’s administration.

Friday, January 8th 2016 - 11:06 UTC

Argentina and Uruguay will bid to jointly host 2030 World Cup

Vazquez and Macri making the announcement in Colonia

Uruguayan President Tabare Vazquez and Argentine counterpart Mauricio Macri agreed on Thursday that their countries will present a joint bid to host the World Cup in 2030, a century after Uruguay was the site of the first tournament.

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