International

International
Wednesday, October 8th 2014 - 03:46 UTC

World Bank supports Argentina, favors institutional frame for 'holdouts'

“I welcome Argentina’s initiative in the UN and every way in which these problems can be solved”, said economist Augusto De la Torre

World Bank Chief Economist for Latin America and the Caribbean Augusto De la Torre has said the ongoing conflict between Argentina and holdout creditors is due to the “lack of international debt regulation frames”, and favored Argentina's initiative in the UN to “solve the situation.”

Wednesday, October 8th 2014 - 03:43 UTC

IMF lowers Latam growth forecasts: declining exports and domestic constraints

”These worse prospects are in turn affecting confidence, demand, and growth today,” said Olivier Blanchard, head of the IMF’s Research Department

The International Monetary Fund cut its global economic growth forecasts for the third time this year, warning of weaker growth in core Euro zone countries, Japan and big emerging markets like Brazil.

Wednesday, October 8th 2014 - 03:40 UTC

Ebola outbreak threatens Africa with dramatic consequences, says IMF

Since it was detected in Guinea in March, spreading to neighboring Sierra Leone and Liberia, the Ebola epidemic has killed more than 3,400 people

Saharan Africa's economic growth remains strong and should accelerate to 5.8% in 2015 but if the Ebola outbreak in its western corner is protracted or spreads it will have “dramatic consequences” for that zone, the IMF said on Tuesday.

Tuesday, October 7th 2014 - 22:08 UTC

Enhancing safe navigation in polar waters

“It has taken considerable work and time to set up this system”, said Captain Leif Skog of Lindblad Expeditions, a long-time member of IAATO

The Association of Arctic Expedition Cruise Operators (AECO) and the International Association for Antarctica Tour Operators (IAATO), in cooperation with Lindblad Expeditions, have found a way for cruise operators to share years of depth soundings from the Arctic and Antarctica.

Tuesday, October 7th 2014 - 19:45 UTC

Matthew Rycroft has been appointed as UK Permanent Representative to UN

Mr. Rycroft has been British Ambassador in Bosnia and earlier in his career had postings in Washington, Paris and the UN in Geneva

Matthew Rycroft CBE has been appointed as the United Kingdom’s Permanent Representative to the United Nations in New York in succession to Sir Mark Lyall-Grant KCMG, who will be transferring to another Diplomatic Service appointment. Mr Rycroft will take up his appointment during April 2015.

Tuesday, October 7th 2014 - 06:16 UTC

Ambassador Castro criticizes 'holdouts' and thanks UK unions' support for Argentina

“Trade unions the world over condemn this ruthless profiteering strategy led by the vulture funds that aim to undermine our economy”, said Ms Castro

Argentine ambassador in the United Kingdom, Alicia Castro has fiercely criticized the conduct of holdout investors and thanked UK unions for their support in the dispute with 'vulture funds', during an address to the British umbrella trade union UNITE.

Tuesday, October 7th 2014 - 06:04 UTC

IMF urges changes in sovereign bonds' contracts, following Argentina's case

The IMF report said that the standard “pari passu” or “equal treatment” clause in Argentine bond contracts permitted holdouts to make their claim for 100%.

The International Monetary Fund on Monday urged changes in sovereign bond contracts as Argentina remained mired in a US court battle with holdouts or “vulture funds” years after its massive debt restructuring.

Monday, October 6th 2014 - 18:10 UTC

UK protests incursion of Gibraltar waters by Spanish research vessel

Minister Lidington expressed grave concern and reaffirmed that “the waters around Gibraltar are indisputably British”.

The Foreign Office reacted strongly to the 5 October 2014 serious incursion into British Gibraltar Territorial Waters (BGTW) by a Spanish state research vessel. In response to the incident, the Minister for Europe, the Rt Hon David Lidington MP, earlier called Spanish Secretary of State for Foreign Affairs Gonzalo de Benito to express his grave concern.

Monday, October 6th 2014 - 11:45 UTC

Euro zone, an economy struggling against multiple headwinds

UK Chancellor Osborne said the weakness in the Euro zone was “probably the greatest immediate economic risk” to the UK.

A survey measuring business activity in the Euro zone shows the economy remains “stuck in a rut”, according to the company behind the report. The Euro zone purchasing managers index (PMI) fell to 52 in September, down from an initial estimate of 52.3.

Monday, October 6th 2014 - 07:33 UTC

Italian holdouts, following on Paul Singer, present demand against Argentina

More than 200 Italian holdout bondholders and one another that lives in the Bahamas are represented by the well-known law firm Duane Morries

Italian bondholders filed a complaint order to United States District Judge Thomas Griesa asking to be given the same benefits as Aurelius Management and NML Management, the “holdouts” that were authorized by Griesa to be paid the full debt Argentina has with them.

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