United States

United States
Saturday, July 12th 2014 - 11:00 UTC

Pollack's hope is that dialogue between holdouts and Argentina will continue

In official communiqué, the Argentine Economy Ministry described the meeting as “eminently technical”.

Argentine officials and holdout investors met separately with the New York court-appointed mediator or 'Special Master' for five hours on Friday, presenting their cases in hopes of resolving a litigation on defaulted bonds that has dragged on for years.

Friday, July 11th 2014 - 06:19 UTC

JP Morgan requests 'clarification' from Judge Griesa to pay Japanese bondholders

Judge Griesa apparently is resting in his ranch in Montana

JP Morgan bank, the entity responsible for the payment to Argentina's Japanese bondholders has sent a letter to US Federal Judge Thomas Griesa, requesting “a clarification” in order to deliver the funds to the nation's creditors.

Friday, July 11th 2014 - 06:14 UTC

Pollack says Argentina, hold-outs and legal representatives will meet on Friday

Senior Master Pollack will be holding another round of contacts with the parts involved in the litigation

Special master Daniel Pollack revealed on Thursday he has been talking with holdout funds and Argentine lawyers “on a daily basis”, one day before an Economy Ministry committee travels to New York to meet the mediator in the funds/Argentina litigation case for the second time.

Friday, July 11th 2014 - 06:06 UTC

Majority of Uruguayans disapprove receiving US prisoners from Guantanamo military base

Mujica and Obama agreed that Uruguay would take six prisoners as refugees. However it all depends on the US Senate

A majority of the Uruguayan population does not approve receiving US prisoners from the US Guantanamo Base, a decision adopted by the government of President Jose Mujica to help support the US government in closing the 9/11 jail for terrorists, according to a public opinion poll released on Thursday.

Thursday, July 10th 2014 - 21:48 UTC

Fed will end asset purchases in October, but no decision yet on interest rates

The minutes indicate the Fed envisions using overnight repurchase agreements in tandem with the interest is pays banks for excess reserves

The Federal Reserve has begun detailing how it plans to ease the US economy out of an era of loose monetary policy, indicating it will end its asset purchases in October and appearing near agreement on a plan to manage interest rates in the future, according to minutes of the last Fed policy meeting.

Wednesday, July 9th 2014 - 08:21 UTC

Kicillof blasts holdouts: “they never negotiated or lent money to Argentina”

“If instead of suing NML had accepted the debt swaps they would have tripled or even quadrupled their investment”, said the argentine minister

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.

Wednesday, July 9th 2014 - 08:14 UTC

Mediator Pollack will receive Argentine delegation Friday in follow up meeting

“The discussions have been frank, the principal issues have been identified, and the parties have indicated an intention to continue meeting”, said Pollack.

Argentina confirmed on Tuesday that the delegation headed by Economy Minister Axel Kicillof will continue talks with mediation Daniel Pollack, next Friday in New York, a 'follow up' of Monday's first appointment.

Wednesday, July 9th 2014 - 08:00 UTC

Kerry wishes the Argentine team 'good luck' in the World Cup

The Secretary of State message was motivated by Independence Day

US Secretary of State John Kerry congratulated the people of Argentina on the country’s Independence Day on July 9 and wished the national team good luck in Brazil’s World Cup.

Tuesday, July 8th 2014 - 08:33 UTC

EU holders of restructured Argentine bonds begin court actions in Belgium

Bondholders sent Judge Griesa a request for clarification on the impact of his pari passu (equal treatment) ruling

Holders of restructured Argentine bonds took to Belgian courts against Euroclear and the Bank of New York last week over their failure to pay out Argentina’s deposit, newspaper Tiempo Argentino (*) reported, citing court documents signed by the funds’ legal counsel.

Tuesday, July 8th 2014 - 08:20 UTC

Leading holdout hedge fund willing to give Argentina more time to negotiate

“The silence from Argentina is deafening. It does not appear serious about reaching a timely resolution of its debts”, said Newman in a FT column.

Elliott Management portfolio manager Jay Newman has revealed that the holdout hedge fund would be willing to give the Argentine government more time to negotiate following the nation's reverse in the US Supreme Court, while criticizing Economy minister Axel Kicillof for not meeting with the so-called 'vulture funds'.

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