Argentina

Friday, September 12th 2014 - 06:28 UTC
Argentina's situation “will not develop into a regional financial crisis”, says UNCTAD

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

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

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 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

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

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

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”

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 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.
Wednesday, September 10th 2014 - 06:03 UTC
World Bank commits 5bn dollars financial support for Argentina in 2015/2018

The World Bank Group’s (WBG) Executive Directors discussed a new Country Partnership Strategy (CPS) for Argentina covering fiscal years 2015-2018 with financial commitments over the period expected to be in the range of 1 to 1.2 billion dollars per year plus 1.7bn for the private sector.