Argentina's Legal and Technical Secretary to the Presidency Carlos Zannini is overseeing a group of experts in international law as they draft the suit the government of President Cristina Fernandez will file against US Judge Thomas Griesa’s ruling on full repayment to holdout bondholders at International Court of Justice in the Hague, according to Noticias Argentinas-
The following piece published in The New York Times was written by Joseph E. Stiglitz, winner of the Nobel Prize in Economics and a former chief economist of the World Bank, and currently a professor at Columbia University.
Sharply higher interest rates around the world could combine with weaker growth in emerging markets to slice as much as two percentage points off global growth in the next five years, the International Monetary Fund said on Tuesday.
The IMF's chief economist warned that a default by Argentina in its battle with holders of its defaulted debt may hurt its economy and the global financial system. Argentina continues to face the fallout of its 2001 debt default, which plunged the country into an economic crisis it is still battling to overcome.
The World Bank's vice president for Latin America and the Caribbean, Jorge Familiar, on Wednesday highlighted Peru's economic growth over the past 10 years. Peru's average economic growth over the period has registered 6. 5% annually, allowing many Peruvians to escape poverty, said Familiar.
Global economic activity should strengthen in the second half of the year and accelerate in 2015, although momentum could be weaker than expected, IMF chief Christine Lagarde said, hinting at a slight cut in the Fund's growth forecasts.
The International Monetary Fund is “concerned about wider systemic implications” the ruling by the US Supreme Court could prompt following its decision not to consider Argentina’s appeal aimed at staving off a default.
President Cristina Fernandez pledged on national television late Monday that Argentina will abide and honor its debts, the 92% of those who trusted in the country and hopefully the 100% of creditors, but will not accept 'extortions'.
The International Monetary Fund cut its growth forecast for the United States and said the economy would not reach full employment until the end of 2017, allowing the Federal Reserve to take its time before raising interest rates.
The International Monetary Fund (IMF) launched on Wednesday the Global Housing Watch, a webpage (www.imf.org/housing) dedicated to featuring its analysis on housing markets across the world. The page will provide a one-stop shop for the Fund’s Global House Price Index and other data on housing indicators.