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.
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%.
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.
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.
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.
June inflation in Argentina reached 1.3%, accumulating 15% in the first six months of the year, according to a release from the country’s stats office Indec. The release also revealed the wholesale prices had increased 1.5% in June, while locally-made products saw rises of 1.5%.
An Argentine Senator has stated that the solution to the Falklands/Malvinas dispute is a period of shared sovereignty, with Latin American support and guarantees, before the Islands are finally handed over to Argentina.
Brazilian president Dilma Rousseff and her Russian counterpart Vladimir Putin have restated their aim of doubling bilateral trade between the two nations to a value of 10 billion dollars a year, in a meeting held a day before the sixth summit of the BRICS group on Tuesday.
Aurelius Capital Management, one of the lead holdout creditors seeking to settle with Argentina over sovereign debt payments from its 2002 default, said on Monday the Argentine government faced a new crisis on July 30 unless it engages in real talks.
General Motors plans to invest 740 million dollars through 2016 in Argentina to build a factory to turn out aluminium motors. The announcement comes as the Argentine auto industry saw a more than 20% drop in production in the first quarter compared to the record performance in the same period in a year earlier.