Argentina's government cut this season's wheat output forecast, citing three months of heavy rains that started in August and flooded key parts of the Pampas farm belt, the Agriculture Ministry said on Thursday.
Argentine Economy Minister Hernán Lorenzino assured during a press conference on Thursday that paying off the vulture funds is illegal, and said that the ruling by US District Judge Thomas Griesa against Argentina is unfair.
Argentina is adopting measures that impact negatively on investors and consumers confidence warned US economist Nouriel Roubini who became world famous for having anticipated the international crisis of the sub-prime mortgages and junk bonds.
The Argentine navy is not going through one of its great moments, not only because of the impounded flagship ARA Libertad in Ghana and the ARA Espora stranded in South Africa waiting for spares. The rest of the fleet is suffering the consequences of years of lack of maintenance and training with corvettes, destroyers and even submarines involved in mechanical and conducting incidents.
Argentina suffered a stinging blow late Wednesday when New York federal judge Thomas Griesa, citing threats by the country's leaders to defy his rulings in a decade-old dispute over defaulted sovereign bonds, ordered immediate payment.
The Law of the Sea Tribunal in Hamburg confirmed the oral hearings’ date for 29 and 30 November referred to the Argentine vessel ARA Libertad impounded and retained in Ghana since 2 October, with a previous day of consultations with both litigants on 28 November.
Another Argentine province, Formosa announced that it would be repaying in Pesos its dollar-denominated bonds (FORM3) issued under local law, at an exchange rate of 4.81 Pesos per dollar.
Argentina is the country with the world’s fourth highest inflation, behind Sudan, South Sudan and Byelorussia, according to a report from a leading Argentine bank from the City of Buenos Aires.
Ghana rejected on Wednesday Argentina’s plea for Accra City’s Commercial Tribunal to drop the case that kept the ARA Libertad navy training frigate impounded at Tema port since October 2nd.
After the first national strike against her administration, Argentine President Cristina Fernández blasted the CGT and CTA-led protest claiming they appealed to “bullying” tactics and called on workers to defend the “economic development and inclusion model”.