Politics

Politics
Thursday, July 17th 2014 - 07:27 UTC

BRICS development bank HQ in Shanghai and India will hold the presidency

“It is a sign of the times, which demand reform of the IMF” Rousseff told reporters at the close of the summit

The first president of the BRICS group New Development Bank will be from India and the position will rotate every five years among Brazil, Russia, India, China and South Africa, said a joint statement from the leaders said.

Thursday, July 17th 2014 - 07:20 UTC

CFK says BRICS support Argentina in the holdouts dispute, but where’s the document?

Dilma Rousseff will be taking a proposal on sovereign debt restructuring to the G20 summit in Australia, according to the Argentine president

President Cristina Fernandez assured that Argentina received the support from the group of BRICS countries (Brazil, Russia, India, China and South Africa) in its struggle against the holdout speculative funds, during the two summits held in Brazil, in Fortaleza and Brasilia.

Thursday, July 17th 2014 - 07:14 UTC

CFK admits having to pay 300% profit on holdouts’ dollars, but never 1.680% as pretended

In an impassionate 26 minute speech the Argentine leader called for support in the battle with holdouts

Argentine President Cristina Fernández rejected on Wednesday the possibility of a new default during the UNASUR-BRICS meeting in Brasilia, highlighting Argentina is going to “keep on paying and honoring its debt,” while asking for support against the “so called vulture funds,” who are “pretending to collapse the Argentine debt restructuring.”

Thursday, July 17th 2014 - 06:49 UTC

Judge warns Argentine VP of impeachment if he does not turn up for questioning

Boudou was summoned to court this week but asked for a suspension since he was to replace Cristina Fernandez

Argentine Vice-president and acting president while Cristina Fernandez is off to Brazil, and who was summoned this week for a hearing in a criminal probe for alleged irregularities in the purchase of a vehicle, was granted another seven days, but if he does not turn up Federal Judge Claudio Bonadio will ask Congress for his impeachment.

Thursday, July 17th 2014 - 06:36 UTC

Argentine Congressional index inflation: 2.2% in June and 39.9% in six months

Housing and public utilities were the items with the largest increases in June

Inflation in Argentina during the month of June reached 2.2% accumulating 39.9% in the first half of the year, according to the average of private consultants, which is also identified as the Congressional index. The announcement comes a few hours after the official rate from the Indec stats office was released, 1.3% and 15%.

Thursday, July 17th 2014 - 06:15 UTC

Judge Griesa to hear arguments from banks caught in Argentina/holdouts case

Griesa has received motions from the Bank of New York Mellon, the indentured trustee that currently holds a deposit from the Argentine government

US District Judge Thomas Griesa in New York said on Wednesday that he would hear arguments on July 22 related to the banks and payment agents caught up in the Argentine sovereign debt litigation with holdout speculative funds.

Thursday, July 17th 2014 - 05:49 UTC

Holdout funds claim in ads campaign that Argentina is choosing default scenario

The American Task Force Argentina has concentrated its fire on Economy minister Kicillof

The American Task Force Argentina (ATFA), the group the government of President Cristina Fernandez has officially accused of being funded by same holdout creditors suing Argentina over its defaulted bonds, has resumed its advertisement campaign against Buenos Aires now saying the Kirchner administration is actually “choosing” a default scenario.

Thursday, July 17th 2014 - 05:39 UTC

“K” economist claims holdout hedge funds are after Argentina’s shale resources

 Economist Agustín D’Atellis bashed ‘vulture funds’

The holdout speculative funds or “vulture funds” are going after Argentina’s resource-rich Vaca Muerta region and are seeking to threaten the government with a “technical default” scenario, economist Agustín D’Atellis.

Thursday, July 17th 2014 - 05:24 UTC

Brazil’s main October presidential battle will take place in Sao Paulo

Challenger Neves and Dilma, who is seeking re-election, believe Sao Paulo’s voters are more up for grabs than they have been in decades

When opposition party Senator Aecio Neves officially kicked off his presidential campaign last week, he posted a video on Facebook calling for a “fairer, more efficient, and more generous Brazil”. However the word ‘efficient’ struck some as an odd rallying cry in a tropical country known for its, well, un-Swiss-like approach to time.

Wednesday, July 16th 2014 - 08:05 UTC

IBSA, as important if not more than BRICS for India

 PM Modi and president Dilma Rousseff during the BRICS summit in Fortaleza

Prime Minister Narendra Modi is visiting Brazil to attend the Sixth BRICS summit in Brazil on 15-16 July. During his meeting with President Dilma Rouseff, PM Modi will review the bilateral relations with Brazil with which India is committed to a strategic partnership.

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