The World Trade Organization has ruled that a swath of import regulations imposed by Argentina violate international trade rules, according to the Buenos Aires media quoting diplomatic sources and Brazil's financial press. The ruling favors 43 countries those two years ago claimed Argentina had imposed trade barriers.
Argentine President Cristina Fernández has been forced to call off all official activities following a “pharyngeal laryngitis condition” with the medical team in charge of the head of state’s health deciding on a 24-hour rest at least.
Vulture funds are not interested in negotiations, and all they want is to get hold of the money for re-structured bonds holders, said Argentina's Ministry of Economy in a release made public late Tuesday, the last exchange on the ongoing battle in a New York court with holdout hedge funds.
Argentina's former foreign minister Jorge Taiana described lawmaker and presidential hopeful Julio Cleto Cobos current visit to the Falkland Islands totally “irresponsible” and 'without consultation'. He also blasted the fact that the lawmaker would have his Argentine passport stamped by the government of the Falkland Islands.
Argentina’s economic activity index (EMAE), which is seen as a close proxy of GDP, fell 0.5% in April compared with the same month last year, according to data released by the government's stats office Indec. Nonetheless activity went up 0.6% in April compared to March.
One of the holdout hedge funds involved in the lawsuit against the Argentine government over pending debt from the 2001 bonds default, pointed out on Tuesday that the agreements struck by Argentina with Spanish oil and conglomerate Repsol and the Paris Club are good examples for the basis of an eventual understanding.
Holdout investors involved in litigation with Argentina over sovereign debt said on Monday they have not met with the government to negotiate a settlement on defaulted debt, and accused Buenos Aires of refusing to enter talks as a 30-day countdown to default begins.
As part of a broader South American tour, Russian President Vladimir Putin will be visiting Buenos Aires in July to lay the groundwork for joint projects between Russia and Argentina in the energy sector, including civilian nuclear technologies, military-technological cooperation and machine building.
The Argentina litigation with holdout hedge funds will have an additional ingredient this Monday when the Organization of American States, OAS, Permanent Council holds an extraordinary session, on a special request from Argentina, to consider a consultation meeting of foreign ministers to address the issue of sovereign debt restructuring.
The Argentine 2015 presidential campaign has reached the Falkland Islands. Presidential hopeful and former Vice-president Julio Cleto Cobos is currently visiting the Falklands where he arrived on Saturday on the Lan Chile weekly flight and will spend the rest of the week in the Islands.