A group of bondholders that entered the restructuring of Argentine debt in 2005 and 2010 have presented their own appeal before the United States Supreme Court, in the case involving the so-called holdout hedge funds. The petition, made public on Thursday, mirrors a similar appeal carried out on Tuesday by the Argentine government.
Advanced economies, including the United States, must avoid pulling back stimulus too quickly given the weak global economic recovery and recent market volatility highlights key risks in some emerging markets, the International Monetary Fund said on Wednesday.
Argentina's state oil company YPF announced this week that it had signed a memorandum of understanding (MOU) with a subsidiary of Malaysia's national oil company Petronas for unconventional oil and gas resources development in Argentine Patagonia.
Argentina appeals hedge funds case to US Supreme Court; warns of 'havoc' if lower court ruling stands
Argentina announced on Tuesday it had appealed to the US Supreme Court against a lower court order to pay off hedge fund investors in its bonds, arguing that order violated its sovereignty.
The US Federal Reserve adopted tight new rules for foreign banks to shield the US taxpayer from costly bailouts, ceding only minor concessions despite pressure from abroad to weaken the rule.
Separatist leader Alex Salmond insisted that Scotland would keep the pound if it left the UK and accused British politicians of bluffing by ruling out a currency union in a campaign of fear that would provoke a backlash from Scots.
Uruguay will appeal to a cut in state-run utilities rates, if necessary, to keep inflation under control
Uruguayan President Jose Mujica admitted that annual inflation would likely remain between 7 and 9% for the rest of his administration, above the government's target maximum, but he will appeal to a cut in state-run utilities rates if necessary to keep the index under control.
Uruguay will renew the contract for the purchase of Venezuela oil and accept the stake increase of that country in a local bio-fuels corporation during the scheduled visit of President Nicolas Maduro to Montevideo next month; it was announced by the Uruguayan Foreign affairs ministry.
Economic growth across the Euro-zone was stronger than expected at the end of 2013, according to official figures, raising hopes the recovery is gaining a foothold. Gross domestic product grew by 0.3% in the October-December period from the previous quarter, said Eurostat, the European Union’s statistics office. That amounts to an annualized rate of about 1.2 %.
Despite a decade of sustained growth Uruguay's fiscal deficit reached 2.3% of GDP last year, which is an improvement over 2012, when it reached 2.8%, but above the government's target of 2.1%. In money terms this means the budget red was equivalent to 1.154bn dollars, including 350 million dollar losses from government owned companies.