Argentina

Argentina
Saturday, April 30th 2016 - 11:45 UTC

YPF will fight back legal claim seeking US$ 500 million for rescinding contracts

YPF said it was notified that it must pay damages of US$184.5 million to Brazilian electric utility AES and US$319.1 million to Transportadora de Gas del Mercosur

Argentina's state-run energy company YPF said this week it will fight a legal claim seek more than US$500 million in damages for rescinding natural gas export contracts in 2009. “YPF shall use all its legal resources to defend its interests and those of its shareholders,” the company said in a filing with the Buenos Aires Stock Exchange.

Saturday, April 30th 2016 - 11:10 UTC

Sea elephant sighted in the Uruguay River, some 200kms north of the River Plate

Apparently it's the same sea mammal sighted a few days ago, further south,  in Mercedes, Uruguay, which has also seen its coastline flooded.

A sea elephant has been sighted in the shores of Gualeguaychu, next to the River Uruguay, deep in the Argentine heartland province of Entre Ríos, which together with the opposite coast in neighboring Uruguay has suffered uncommon high floods that have left part of several cities covered in water.

Saturday, April 30th 2016 - 10:57 UTC

A natural size bronze statue of Kirchner found during Argentine prosecutors raids in Santa Cruz

The statue was discovered by the Argentine Federal Police in one of several warehouses in Rio Gallegos, where Baez kept his fleet of expensive luxury cars.

The mega judicial raids in Argentina into the properties of arrested Kirchnerite businessman Lazaro Baez and his family, in the southern province of Santa Cruz, so far have found less cash than rumored but far more assets that expected, including some surprises such as a full size bronze statue of former president Nestor Kirchner.

Friday, April 29th 2016 - 06:08 UTC

IMF praises Argentina's new focus despite an expected contraction of 1% this year

“The new policy framework, however, has improved the medium-term outlook, with GDP growth expected to rebound to about 2,75% in 2017,” the paper said.

Argentina's GDP is expected to contract by about 1% in 2016, according to the latest IMF Regional Economic Outlook; Western Hemisphere, announced on Wednesday in Mexico. The chapter on Argentina makes a special mention of the new government's changes to remove macroeconomic imbalances.

Friday, April 29th 2016 - 05:44 UTC

Mercosur unmoved by Rousseff''s invocation of the “democratic clause”

Argentina said it is most respectful of the Brazilian constitutional process

“We respect the Brazilian constitutional process” and thus Argentina does not have plans to follow on president Dilma Rousseff announcement that she will appeal to Mercosur to implement the “democratic clause” if the impeachment process to remove the head of state from office advances in the country's Senate.

Thursday, April 28th 2016 - 12:05 UTC

China plans to track moon spacecrafts from its station in Argentine Patagonia

The Quintuco station is expected to become active in March in 2017 and next June the main antenna will begin to be assembled

In March next year, China's space and satellite tracking station in Quintuco, Argentine Patagonia will become operational, according to members from China's Space Agency, CLTC, who advanced that in June scientists will be mounting the station's antenna to explore outer space.

Thursday, April 28th 2016 - 07:37 UTC

Corruption network ever closer to Cristina Fernandez as associates are investigated

Lawmaker Eduardo “Wado” De Pedro has unaccounted travel expenses over US$ 300.000 as part of Cristina Fernandez presidential delegations

Argentina's Lower House member and former Secretary of ex president Cristina Fernandez, Eduardo “Wado” De Pedro is under prosecution investigation following claims he over billed travel expenses while overseas in 2015 as part of the presidential delegations.

Wednesday, April 27th 2016 - 10:44 UTC

Paul Singer praises Macri but warns about negative impact from Collective Action Clauses

 The article came days after Singer was invited to write in TIME about Macri as part of the publication’s Most 100 Influential People in the World list

Financier Paul Singer again took to the US media to celebrate Argentine President Mauricio Macri’s decision to settle with the so-called “speculative” creditors, including Singer’s own Elliott Management, with an article in the Wall Street Journal heaping praise on his business-friendly approach and willingness to negotiate with the holdouts.

Saturday, April 23rd 2016 - 10:46 UTC

Treasury Secretary Lew praises Argentina for its reintegration to the global economy

Argentina’s successful final settlement is a testament to the sea change in policy under President Macri, said Treasury Secretary Lew

United States Treasury Secretary Jacob J. Lew celebrated Argentina's return to international markets and reintegration to the global economy, following the final settlement with holdout creditors, which it described as a major milestone not only for Argentina but for the global financial system.

Saturday, April 23rd 2016 - 10:26 UTC

Judge Griesa pleased and gratified the Argentine 15-year litigation with bondholders is over

Judge Griesa asked to make public note of the fact that it gave him the greatest pleasure to be able to exercise his discretion and lift the Injunction

US Federal Judge Thomas said on Friday it gave him the greatest pleasure to be able to exercise his discretion and lift the injunction against Argentina which impeded the payment on defaulted debt.

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