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