Argentina

Argentina
Friday, September 12th 2014 - 06:46 UTC

Falklands Islands' minefield priority areas are named as bidders visit

Foreign Office Advisor for minefield issues Alistair Craib confirmed this week the priority minefields to be cleared beginning November

Four minefield clusters have been pinpointed as priority areas for the next clearance phase in the Falkland Islands. Foreign and Commonwealth Office (FCO) Advisor for minefield issues Alistair Craib confirmed this week that Priority 1 is Minefield 59 on either sides of the MPA Road near Wall Mountain and Mount Harriet.

Friday, September 12th 2014 - 06:28 UTC

Argentina's situation “will not develop into a regional financial crisis”, says UNCTAD

The UN office criticized the legal obstacles Argentina has faced in servicing its restructured debt obligations.

United Nations Conference on Trade and Development (UNCTAD) said that while Argentina was facing potential financial instability, its solvency and the sound macroeconomic fundamentals in other countries of the region “should prevent the shock from developing into a regional financial crisis.”

Friday, September 12th 2014 - 06:12 UTC

Argentine organized labor leader forecasts a “social explosion” next December

“President (Cristina Fernández) said that if inflation reached 25% Argentina would burst, and we will be reaching 40% of inflation” said Barrionuevo

Argentina is heading towards social outbreak due to soaring inflation, head of the anti-government CGT Azul y Blanca labor confederation Luis Barrionuevo said in statements that have already sparked controversy.

Friday, September 12th 2014 - 01:43 UTC

China constructing a satellite tracking station in Argentine Patagonia

According to the Neuquen province minister Rodolfo Laffitte, the space antenna will be finished and ready to operate next February.

A space tracking station for lunar exploration being built in Argentine Patagonia by China, as part of the strategic relation and accords between the two countries, has caused concern in the Argentine congress because of the secrecy surrounding the terms of the deal.

Thursday, September 11th 2014 - 17:00 UTC

There are two Mercosur, but only the ideological one prevails

The ideological Mercosur is limited to a political board of three. Brazil, Argentina and Venezuela, “the original Mercosur is over” indicated Magnoli

The original Mercosur is over; it has been reduced to a political block with a three member board, Brazil, Argentina and Venezuela, according to Demetrio Magnoli a renowned Folha de Sao Paulo columnist who added that the 'political' Mercosur has helped the Alliance of the Pacific to advance.

Thursday, September 11th 2014 - 04:48 UTC

Judge Griesa will wait for appeals court ruling before acting on holdouts' Citibank subpoena

“It almost goes without saying whatever the court of appeals decides will have an effect on the issues we're dealing with here,” Griesa said.

US district judge Thomas Griesa has said he would wait for a decision on a pending appeal before ordering Citigroup to comply with a subpoena served by holdout investors seeking details of any threats from Argentina to process payments the court had blocked.

Thursday, September 11th 2014 - 04:30 UTC

Despite all the negative economic data, Argentina's stock market has almost doubled this year

Much of the money flowing into Argentina's Merval this year has come from wealthy Latin American investors

Despite all the negative news on government restrictions imposed on the Argentine economy and the shortage of hard currency, the country's Merval Index has skyrocketed almost 100% this year, the highest of any stock market in the world. It includes many of the largest companies in the country such as Telecom Argentina and Energy Petrobras, along with banks and a steel maker.

Wednesday, September 10th 2014 - 06:59 UTC

Argentina plays the China card to bolster reserves: 800m pledged in first tranche

Central bank president Fabrega from Basel left for Beijing

The Argentine Central Bank foreign reserves would be bolstered this year with up to 800 million dollars in Yuans transferred by China due to the first tranche of the money of the swap agreement signed between both countries, according to banking sources in Buenos Aires.

Wednesday, September 10th 2014 - 06:22 UTC

Cristina Fernandez celebrates the UN assembly vote: “we have to feel proud”

“A world where two or three billionaires can put pressure on the justice system to try and collect usurious gains is not sustainable” said the Argentine president

Argentine President Cristina Fernández praised on Tuesday the United Nations General Assembly approval of a project that proposes legal framework to regulate restructuring of foreign sovereign debt, saying “Argentina has set an international leading case” with the initiative.

Wednesday, September 10th 2014 - 06:09 UTC

UN assembly sides with Argentina votes to change sovereign debt restructuring

The G77 and China initiative received 124 votes, 41 abstentions and 11 nays, among which the US, UK, Japan and Germany

The United Nations General Assembly voted overwhelmingly on Tuesday in favor of a legal framework that would help regulate restructuring of foreign sovereign debt, a project that was suggested by the Argentine government and presented before the assembly by the Group of 77 plus China.

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