The Brazilian government is determined to advance with negotiations for a trade agreement between Mercosur and the European Union even if it means leaving Argentina for a second phase of the process, according to sources from Itamaraty, the country's foreign ministry, reported in the Rio do Janeiro media.
Paul Singer, head of Elliot Management Corp., defined as “bizarre”, the bondholders’ offer to resolve judicially the dispute with Argentina over the debt in default from 2001, during in a letter sent to investors and published by Bloomberg News.
The New York Times published on Wednesday a very strong editorial criticizing the misguided policies of the government of President Cristina Fernandez, arguing that once again 'Argentina is on the brink”.
For second day running the Argentine foreign money market reacted with normality with the official rate of the US dollar closing at 8.015 Pesos, while the so called 'reference dollar' for savings traded at 9.62 Pesos and the 'blue' or parallel climbed 35 cents to 12.50 Pesos.
Paul Singer, CEO of hedge fund Elliott Management Corporation and who is litigating Argentina demanding full payment of defaulted bonds described Argentina's government policies as 'horrendous' and stated that 'talking' he could settle the dispute 'in an afternoon'.
The following piece from The New York Times, written by Simon Romero and Jonathan Gilbertjan gives an insight into the life and thinking of the most powerful Economics minister Argentina has had in a decade: Axel Kicillof and the brains behind the current rather eclectic policies.
In what promises to be a week of surprises as the Argentine government unfolds measures to contain the price of the US dollar, this Monday the peso held relatively stable after last week's sharp devaluation. While the official rate remained unchanged at 8.01 Pesos for a greenback, in the parallel market it climbed to 12.15 Pesos.
Argentina fisheries exports reached 441,255 tons in 2013, up 19.6% over the previous year when 368,915 tons were shipped abroad. Among the items with outstanding performance figures squid with over 100.000 tons and 84% higher than in 2012, according to the official stats from Argentina's Senasa, National Health and Food Quality Service.
The Paris Club said it would study an outline from Argentina for repaying the more than 9.5 billion dollars it owes the group of creditor nations. Argentina is eager to resolve the problem of its outstanding debt with the group in order to regain access to international capital markets from which it has been shut out since its 2002 default.
A meeting of the presidents from Argentina and Uruguay, Cristina Fernandez and Jose Mujica has not been agreed but is 'in the agenda' said Uruguayan foreign minister Luis Almagro following an hour long meeting with his counterpart Hector Timerman on Wednesday in Montevideo.