Argentina

Argentina
Friday, July 4th 2014 - 06:00 UTC

OAS supports Argentina on hedge funds issue; Timerman regrets “US attitude”

Timerman said he appreciated solidarity and commitment from the region but ”I do not quite understand the US’s position”

The Organization of American States (OAS) voted on Thursday to support Argentina’s position against holdout investors, as well as expressing concern over what the entity called “the behavior of speculative agents that affect global financial stability.”

Friday, July 4th 2014 - 05:50 UTC

Cobos' party question his military friend visiting the Falklands next to him

The picture of Cobos and Duarte at the Argentine cemetery in Darwin

Argentina' Radical party national committee (UCR) took distance from the trip to the Falklands/Malvinas of lawmaker Julio Cleto Cobos and underlined that the visit of the former governor from Mendoza province was “something personal” and in no way involves 'institutionally' the party.

Thursday, July 3rd 2014 - 07:02 UTC

Cobos Falklands' trip receives praise: challenge for all Argentina presidential hopefuls

The former vice-president of Cristina Fernandez seems very fond of photos as the tours the Falklands

Despite Argentina's news agenda is absorbed by the World Cup, another possible default and the indictment for corruption of Vice-president Amado Boudou, the Argentine media still has time to talk about former vice-president and presidential hopeful Julio Cleto Cobos' current trip to the Falkland Islands.

Thursday, July 3rd 2014 - 06:57 UTC

US bank caught in bonds litigation requests guidance from Judge Griesa

BNY Mellon, the world's largest custody bank, has told Griesa it has done nothing with the money because it is following his orders

The Bank of New York Mellon, fearful of being sued by Argentine bondholders and unwilling to defy a court order blocking their coupon payments, is seeking guidance from U.S. Judge Thomas Griesa on what to do with the money.

Thursday, July 3rd 2014 - 06:45 UTC

Argentine squid industry concerned with a significant drop in prices

Argentina total landings of squid between January first and 13 June reached 133.087 tons according to official stats

A significant decline in catches of squid (Illex argentinus) in Argentine waters at the end of the season, has forced the return to port of several Argentine flagged jiggers, according to a report this week from the country's Coast Guard station in Mar del Plata.

Thursday, July 3rd 2014 - 06:26 UTC

Roubini warns about negative consequences from the Argentine case

”Holdouts must not be permitted to block orderly restructurings that benefit debtors and creditors”, said the renowned economist

The economist famous for predicting the 2008 financial crisis has analyzed Argentina’s current dispute against vulture funds warning “holdouts must not be permitted to block orderly restructurings that benefit debtors and creditors.”

Thursday, July 3rd 2014 - 06:17 UTC

Hedge funds challenge Kicillof to meet them on Thursday in Washington

The Argentine minister will be in the US capital to address foreign ministers at the Organization of American States (OAS) on the current litigation

The NML Capital hedge fund is ready to meet and negotiate directly with Argentine Economy minister Axel Kicillof and is willing to do so on Thursday, according to a top-ranking executive of the hedge fund involved in a long standing litigation with the Argentine government over defaulted debt.

Wednesday, July 2nd 2014 - 23:51 UTC

Argentina loses trade restrictions case at WTO, says Brazilian financial media

The case refers to a presentation by 43 countries against a swath of restrictions to favor domestic manufacturing and substitute imports

The World Trade Organization has ruled that a swath of import regulations imposed by Argentina violate international trade rules, according to the Buenos Aires media quoting diplomatic sources and Brazil's financial press. The ruling favors 43 countries those two years ago claimed Argentina had imposed trade barriers.

Wednesday, July 2nd 2014 - 23:37 UTC

Cristina Fernandez suspends all activities because of 'laryngitis'; more time to deal with Boudou's case

Suspending her trip to Paraguay means Cristina Fernandez won't be replaced by vice-president Boudou indicted for corruption

Argentine President Cristina Fernández has been forced to call off all official activities following a “pharyngeal laryngitis condition” with the medical team in charge of the head of state’s health deciding on a 24-hour rest at least.

Wednesday, July 2nd 2014 - 07:53 UTC

“Vulture funds not interested in negotiations” claims Minister Kicillof

Kicillof is trying to blame holdouts and Judge Griesa for the current situation

“Vulture funds are not interested in negotiations”, and all they want is “to get hold of the money for re-structured bonds holders”, said Argentina's Ministry of Economy in a release made public late Tuesday, the last exchange on the ongoing battle in a New York court with holdout hedge funds.

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