Argentina’s central bank international reserves pierced the psychological barrier of 37bn dollars and ended Tuesday at 36.9bn dollars, which is the lowest in over six years and will continue to drain since next month the country must repay in full 2bn of a 2007 sovereign bond.
The opening of a new sovereign debt swap announced by Argentine President Cristina Fernández on national television on Monday has received strong support from allies, pledges of neutrality from the main opposition party but also criticisms.
Argentina bonds in dollars, protected by local legislation fell the most in four months after President Cristina Fernandez announced she’s sending a bill to Congress to reopen the debt swap so that holders of the 7% of pending non restructured debt can normalize their situation in similar conditions.
Argentine President Cristina Fernandez got involved in the Lan Chile hangar conflict at the Buenos Aires metropolitan air terminal by praising the performance of re-nationalized Aerolíneas Argentinas and claiming that while foreign carriers can exploit the Argentine domestic market, “there is no reciprocity from other countries”.
Lan Chile went to court in Argentina on Monday to appeal its eviction from a hangar at the metropolitan Buenos Aires Aeroparque airport, which is a crucial element of its national and regional operations. Several unions have anticipated that if the eviction is not stopped they will go on strike and interrupt domestic flights.
Argentina will send a bill to Congress this week to reopen a debt restructuring for those creditors who haven’t accepted previous swaps after the nation’s 2001 default, said President Cristina Fernandez Monday evening on national television.
Argentine Economy minister Hernán Lorenzino said that the New York appeals court ruling supporting Judge Thomas Griesa decision in favour of paying the hedge funds the 1.3bn dollars they are demanding, was an attempt to take the country back to 2001.
Almost 60%, more precisely, 59.1%, of Argentine children in urban areas suffer lack of coverage in their basic rights, according to a release from the Argentine Catholic University referred to infancy rights and included in the latest Social Debt Barometer report.
The head of a powerful union supportive of the Argentine government said that during the recent ‘social dialogue round’ held in Rio Gallegos with business and labour leaders President Cristina Fernandez affirmed with no margin of doubt that she will not be bidding for the presidency in 2015.
The Falkland Islands government is reviewing a tax return submitted by one of the oil companies currently operating off-shore the Islands and is confident a mutually acceptable outcome can be reached.