Argentina made payments of over 3.5 billion dollars on Friday in GDP-linked bonds which refer to the 2005 and 2010 rescheduling agreed with creditors who originally held 2001/02 defaulted sovereign bonds. At the same bank the Central bank revealed that international reserves have fallen to its lowest since 2007.
The IMF said Thursday that it was unlikely to take action on Argentina failure to supply accurate statistical data before January, if the country misses a deadline next Monday.
In the midst of her fight with the courts over the Media Law, Argentine President Cristina Fernández took time to bash the Judiciary after Tuesday’s a scandalous ruling on the disappearance of a young woman, (kidnapped and forced into prostitution) with all suspects acquitted of all charges.
The Argentine government submitted on Tuesday morning an extraordinary recourse before the Federal Civil and Commercial Court against the extension of the Clarín Group’s injunction to comply with the Media Law, granted by the Civil and Commercial Court N° 1.
In a major speech on Sunday before the iconic Plaza de Mayo celebrating ‘Democracy Day’ and ‘Human Rights Day’ , Argentine President Cristina Fernandez kept pressure on Judges and independent media calling for a “deep democratization of the three branches of government” and a “greater independence from economic power and corporations”.
An Argentine Senator from the ruling coalition warned that judges who upheld an injunction request made by the media group Clarín on Thursday could be impeached.
The presence of President Hugo Chavez at Friday’s Mercosur summit is “uncertain” reported the official Brazilian news agency on Wednesday adding that the organizers are waiting for a confirmation of his trip to Brasilia.
Argentine President Cristina Fernandez criticized international organizations which she described as ‘predators’ and called for the region to create its own mechanisms to settle litigations among South American countries.
The presence this week of Brazilian president Dilma Rousseff next to Cristina Fernandez at Argentina’s Industrial Union, UIA annual conference was considered a major integration success and highlights the growing interaction of the two leading Mercosur partners.
President Cristina Fernández de Kirchner ratified on Wednesday that Argentina will continue to pay all its financial obligations and described as “absolutely unfair” the ruling from Judge Thomas Griesa who favoured the hedge funds to the detriment of 93% of bondholders who joined the 2005 and 2010 debt swaps.