In an interview with Argentina’s daily 'Ambito Financiero', Nobel Economics laureate Joseph Stiglitz considered the Argentine government’s move to reopen the debt swap and replace the Bank of New York Mellon with local Banco Nacion as trustee a “good call” saying the reopening would not be mandatory, “voluntarily” inviting bondholders to join the strategy.
One of two hedge funds that sued Argentina over defaulted bonds branded the country's leaders “outlaws” on Wednesday after Buenos Aires moved to shift its bond payment method.
The US dollars climbed to a record 13.15 Pesos on the black or 'blue' market on Wednesday trading as fears mount regarding the outcome of the holdout bonds conflict with the New York court. The official dollar rate closed at 8.2750 Pesos.
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.
Argentine Economy minister Axel Kicillof responded fiercely to criticisms directed at him and the Argentine government by Elliott Management portfolio manager Jay Newman, reminding the representative of the holdout investors that they have never lent a cent to Argentina.
US Judge Tomas Griesa said on Wednesday that the televised speech delivered by President Cristina Fernández on Monday after the US Supreme Court declined to hear an appeal by Argentina in its battle against the holdouts was “a problem” for negotiations and implied he did not trust the Argentine leader.
Economy Minister Axel Kicillof has announced that the government plans to reopen the debt swap program in the hope of renegotiating bonds held by hedge funds, after the US Supreme Court declined to take Argentina's case against the so-called 'vulture funds'.
US Supreme Court is likely to issue a ruling in the upcoming months favoring Argentina’s position in the country’s dispute against hedge funds ('vulture funds'), anticipated former Argentine Finances Secretary Guillermo Nielsen.
President Cristina Fernandez administration has high hopes that the US Supreme Court will take its long running litigation case with holdout hedge funds that refused to accept sovereign debt rescheduling after Argentine defaulted in 2001.
Argentina bonds in dollars, protected by local legislation fell the most in four months after President Cristina Fernandez announced she’s sending a bill to Congress to reopen the debt swap so that holders of the 7% of pending non restructured debt can normalize their situation in similar conditions.