The Inter-American Development Bank (IDB) approved a conditional credit line for 1.2 dollars billion to finance a program to improve metropolitan railroads in Argentina. The Bank also approved the first loan in the credit line for 300 million dollars for the Plaza Constitucion-La Plata branch of the General Roca railroad, which will benefit 2.4 million people in the Buenos Aires metropolitan area.
Argentina's economy is expected to grow 6.2% next year, while GDP in 2013 is forecasted to expand 5.1% boosted by a massive grains harvest and the automobile industry, Economy Minister Hernan Lorenzino said on Thursday while presenting the 2014 budget bill before Congress.
The US Supreme Court will use its Sept. 30 private conference to consider whether to hear Argentina’s appeal in a clash affecting billions of dollars in defaulted debt. The schedule, revealed on Wednesday on the court’s public docket, means the justices may say as early as Oct. 1 whether they will review a 2012 federal appeals court ruling that requires Argentina to pay holders of defaulted bonds if the country makes payments on restructured debt.
Spanish Foreign minister Jose Manuel Garcia-Margallo said that the ‘best solution’ for Spain and Argentina on the dispute over the seizure of a majority stake of YPF from Repsol is “negotiations” and emphasized that Madrid will back Spanish corporations in what it ‘considers convenient’.
The government of President Cristina Fernandez thanked Paraguay for granting political asylum to Juan Domingo Peron, three times elected president of Argentina, at their embassy in Buenos Aires, when he was ousted by a military coup in September 1955
Argentina’s long-term sovereign foreign currency credit rating was cut one level by Standard & Poor’s, which cited a US Appeals Court ruling that prevents the country from honouring its debt without also paying holders of defaulted bonds in full.
Inflation in Argentina during August climbed 2.11% and 25.2% in the last twelve months according to the release from the Congress Freedom of expression commission. The so called Congressional index is an average of private consultants that have been intimidated from making public their estimates by the government of President Cristina Fernandez.
Argentina promised to be ‘inflexible” with the UPM pulp mill on Uruguayan territory, if it tries to increase production as it has requested, thus again opening a new controversy with Uruguay which has pledged to answer the (2011) expansion request in the last week of September. Presidents Cristina Fernandez and Jose Mujica are scheduled to meet in Buenos Aires at the end of the month.
Sergio Massa, mayor of Tigre in suburban Buenos Aires who is disputing Argentine President Cristina Fernandez leadership of the ruling movement by running for the Lower House in representation of the province of Buenos Aires, leads comfortably with 40% of vote intention according to the latest public opinion released on Sunday.
Paraguayan president Horacio Cartes is expected in Buenos Aires on Tuesday, following an invitation from his Argentine peer Cristina Fernandez, which will be his first overseas bilateral trip since taking office 15 August.