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.

Wednesday, July 2nd 2014 - 07:04 UTC

Former Argentine minister blasts Cobos for Falklands trip; passport controversy

Taiana said he “never went and will never go” to the Falklands because Argentine passports must be stamped once arriving in the Islands

Argentina's former foreign minister Jorge Taiana described lawmaker and presidential hopeful Julio Cleto Cobos current visit to the Falkland Islands totally “irresponsible” and 'without consultation'. He also blasted the fact that the lawmaker would have his Argentine passport stamped by the government of the Falkland Islands.

Wednesday, July 2nd 2014 - 00:13 UTC

Data confirms Argentina's economy has slid into recession

The sharp decline of the auto sector in terms of production, domestic sales and exports was reflected in the contracting EMAE

Argentina’s economic activity index (EMAE), which is seen as a close proxy of GDP, fell 0.5% in April compared with the same month last year, according to data released by the government's stats office Indec. Nonetheless activity went up 0.6% in April compared to March.

Tuesday, July 1st 2014 - 23:57 UTC

Argentina's Paris Club and Repsol debt deals possible accord path, hint holdout funds

Structure agreements with Repsol and the Paris Club are “very good models for how we could see a deal for unpaid bondholders” said Jay Newman

One of the holdout hedge funds involved in the lawsuit against the Argentine government over pending debt from the 2001 bonds default, pointed out on Tuesday that the agreements struck by Argentina with Spanish oil and conglomerate Repsol and the Paris Club are good examples for the basis of an eventual understanding.

Tuesday, July 1st 2014 - 14:59 UTC

Holdout hedge funds claim Argentina never turned up to negotiate a settlement

 “Argentina has refused to negotiate any aspect of this dispute,” said Jay Newman, senior portfolio manager at Elliott Management.

Holdout investors involved in litigation with Argentina over sovereign debt said on Monday they have not met with the government to negotiate a settlement on defaulted debt, and accused Buenos Aires of refusing to enter talks as a 30-day countdown to default begins.

Tuesday, July 1st 2014 - 07:21 UTC

Kicillof will talk about Argentina's debt case before OAS foreign ministers

OAS Secretary General Insulza expressed his solidarity with Argentina and the  unusual situation the country is in

The OAS Permanent Council, responding to an Argentine request, agreed to convene a Meeting of Consultation of Ministers of Foreign Affairs on Thursday, July 3 the headquarters of the OAS in Washington DC to discuss “Sovereign Debt Restructuring: The Case of Argentina and its Systemic Consequences.”


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