Tag: Argentina

• Tuesday, June 24th 2014 - 22:37 UTC

  Hedge fund calls on Judge Griesa to reject 'stay' order requested by Argentina

  

  Hedge fund NML Capital have dismissed the Argentine government's request to reestablish a stay on payments to the holdout hedge funds, and called on New York judge Thomas Griesa to reject the plea.

• Tuesday, June 24th 2014 - 06:54 UTC

  Griesa appoints mediator for talks between Argentina and holdout hedge funds

  

  New York district court judge Thomas Griesa on Monday appointed a Manhattan attorney to supervise talks between Argentina and hedge fund holdout bondholders after the government of President Cristina Fernandez asked him to organize negotiations with its creditors.

• Tuesday, June 24th 2014 - 06:42 UTC

  Argentina requests a 'stay' order on the ruling favoring holdout creditors

  

  Argentina asked a U.S. judge on Monday to issue a stay of his ruling against the country in its case against “holdout” creditors as it sought to avoid a possible new default. The country is in a 12-year-old legal fight with investors who declined to participate in bond restructurings (2005 and 2010) after the country defaulted on 100 billion dollars in sovereign debt in 2002.

• Tuesday, June 24th 2014 - 04:26 UTC

  Argentine economy contracts 0.2% in first quarter; 2013 growth down to 2.9%

  

  Argentina's economy contracted during the first quarter of the year as high inflation and weak exports to top trade partner Brazil took a toll. During the first three months of the year, GDP fell by 0.2% on the year and contracted 0.8% on the quarter, the national statistics agency Indec reported Monday.

• Monday, June 23rd 2014 - 04:39 UTC

  Mercosur and Celac stand by Argentina in the hedge funds litigation

  

  Mercosur and Celac country-members expressed support for Argentina and its ongoing litigation with the holdout hedge funds, particularly last week's decision from the US Supreme Court, (which refused to consider the case), and the financial consequences emerging from such a position.

• Monday, June 23rd 2014 - 04:27 UTC

  Argentina takes its differences with Judge Griesa to the US main journals

  

  Argentina on Sunday took its battle against paying hedge fund investors in its defaulted bonds to the US media, placing adverts in major newspapers demanding US courts help foster “fair and balanced” negotiations.

• Monday, June 23rd 2014 - 04:08 UTC

  Jubilee Debt Campaign supports Argentina against “vulture funds” quick bucks

  

  The following letter under the heading of “Urgent need for legislation on Argentina debt” was published in the Financial Times and refers to the ongoing battle with the holdout hedge funds.The piece is signed by Tim Jones, Policy Officer, Jubilee Debt Campaign, London, N1, UK.

• Saturday, June 21st 2014 - 09:18 UTC

  German companies warn of consequences from Uruguay/Argentina conflict

  

  The Uruguay-Germany commerce and industry chamber (AHK), expressed its deepest concern over the current tension in relations between Uruguay and Argentina, and warned about the impact on the business climate for the two countries.

• Saturday, June 21st 2014 - 09:04 UTC

  Brazil disappointed with Argentina's 'lack of ambition' in reaching trade accord with EU

  

  Argentina and Brazil have again clashed not over football but over trade and Mercosur according to the Sao Paulo media. Brazil believes there is “a lack of ambition from Argentina” to finish polishing the proposal to be exchanged with the European Union for a much delayed cooperation and trade agreement.

• Friday, June 20th 2014 - 07:21 UTC

  After all: Argentina seems willing to start discussions with Griesa and hedge funds

  

  After a day of fury and discussions with cabinet members, advisors and experts, Argentine president Cristina Fernandez will be sending a government delegation to New York to meet Judge Thomas Griesa and the hedge funds holdouts' solicitors and begin, hopefully, a round of negotiations to reach a settlement on the bonds litigation.