Tag: Argentina

Argentina
Tuesday, September 30th 2014 - 22:50 UTC

Argentina/China trade forecasted to boom in Yuan-denominated operations

Argentine companies have been able to import products paying directly in Yuan for several months, said Argentine/China chamber CEO Fernandez Taboada

Trade between Argentina and China could see a rise in Yuan-denominated operations after the bilateral currency swap deal that was sealed earlier this year, according to key leaders of the Sino-Argentine business community in Buenos Aires.

Tuesday, September 30th 2014 - 07:00 UTC

Cristina Fernandez claims US is responsible for Judge Griesa's decision

The Argentine president said Griesa's decision is in violation of international law and the UN and OAS charts (Pic Telam)

President Cristina Fernandez said US Judge Thomas Griesa decision to declare Argentina 'in contempt of court' in the dispute with speculative funds, was in violation of international law, the UN chart and the OAS (Organization of American States) chart.

Tuesday, September 30th 2014 - 05:11 UTC

Argentine reserves below 28bn dollars; bonds payments of 170m on Tuesday

The central bank international reserves now stand at 27.944bn dollars, down 99m from Friday

The informal of “blue” dollar in Argentina fell back 15 cents to 15.55 Pesos after it skyrocketed 75 cents last week and scraping 16 Pesos. The formal US dollar meantime advanced three cents to 8.49 Pesos at the end of trading in Buenos Aires City banks and foreign exchange offices. The gap between the two rates dropped to 83.9%.

Monday, September 29th 2014 - 22:26 UTC

Ambassador Castro thanks British unions for support in 'vulture funds' and Malvinas disputes

Ambassador Castro addressing the UK Communication Workers Union’s (CWU) Annual Women’s Congress, held last Saturday in Leeds.

In a speech delivered to over three hundred trade union delegates, Argentine ambassador in London Alicia Castro thanked the British unions for their support in fighting the 'vulture funds' and in backing the call for dialogue on the question of the Falklands/Malvinas, while praising progress made by Argentina regarding the role of women.

Monday, September 29th 2014 - 08:39 UTC

Argentine stats on economic growth again come under suspicion

Official Indec figures released last week showed GDP growing 0.9% in the second quarter, up from a contraction of 0.5% in the quarter before

Argentina’s government released some hopeful economic statistics last week with numbers showing that the economy climbed out of recession in the last quarter. But with skepticism over the numbers, combined with a free-falling peso, in light of Argentina’s debt dispute with holdout creditors, economists still have a grim outlook the Mercosur member economy.

Saturday, September 27th 2014 - 09:24 UTC

Argentina lashes Griesa for not making a final decision on the Citibank dispute

Kicillof argued that with one-off payment order, Griesa is harming Argentina and bond holders, which are hostage of the 'vulture funds'

Argentina's Economy minister Axel Kicillof lashed out at US Judge Thomas Griesa after he authorized Citibank a one-off payment of Argentine bonds' coupon next Tuesday saying he once again failed to address the heart of the issue and also in fact recognized that bonds under Argentine law do not belong to his jurisdiction.

Saturday, September 27th 2014 - 09:12 UTC

Griesa allows Citibank to process a one-off payment of Argentine bonds

Citibank can now make payment and has three months before the next payment by Argentina on 31 December for 262 million dollars is due

US District Judge Thomas Griesa has enabled Citibank to process a one-off payment on US dollar-denominated bonds issued under Argentine law, during a hearing held at Manhattan federal court on Friday.

Saturday, September 27th 2014 - 08:13 UTC

Guest post: the UN is not the solution for a rogue debtor

UN resolution 2065/1965 urged London and Buenos Aires to negotiate Falklands/Malvinas sovereignty but nearly 50 years later the Islands continue disputed

By Arturo Porzecanski of American University (*) - Jose Antonio Ocampo, a former United Nations official and co-president with Prof. Joseph Stiglitz of Columbia University’s Initiative for Policy Dialogue, which promotes the adoption of heterodox economic policies in developing countries, recently wrote a guest post welcoming a UN General Assembly resolution calling for the launch of negotiations on a multilateral framework for sovereign debt restructuring.

Saturday, September 27th 2014 - 07:59 UTC

UN Human Rights Council sides with Argentina condemns 'vulture funds'

“Vulture funds will not stop until we put the break on,” Argentina Foreign Minister Hector Timerman

The United Nations Human Rights Council meeting in Geneva on Friday adopted an Argentine-fueled resolution which condemns the so called 'holdouts' or “vulture funds”, currently in a legal dispute against the country.

Saturday, September 27th 2014 - 06:11 UTC

US/Argentina are going through 'a difficult period'; Timerman downplays situation

“Right now we are going through a difficult period in our relationship, but we hope we can still develop a positive tie with Argentina,” Jacobson said

US Assistant Secretary of State for the Western Hemisphere Roberta Jacobson has said the bilateral relationship with Argentina is going through a “difficult period”, but stated the legal battle between that country and holdouts is not a “political problem” but a “judicial problem.”

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