MercoPress. South Atlantic News Agency
Argentina announces payments of over 3.5bn dollars in GDP-linked bonds
Economy Minister Hernán Lorenzino announced on Thursday Argentina will be making payments for more than 3.5 billion dollars in GDP-linked bonds, at the Economy Ministry.
Lorenzino presented the payment as a triumph against the hedge-funds. Read full article
Comments
Disclaimer & comment rulesArgentine borrows 6.6B, Argentine pays 3.5b. Robbing Peter to pay Paul??????
Dec 14th, 2012 - 07:46 am - Link - Report abuse 0It really really says a lot when a country has to have a song and dance about actually making a routine payment on its debts.
Dec 14th, 2012 - 08:31 am - Link - Report abuse 0Ah yes, Argentina paying with GDP linked bonds.
Dec 14th, 2012 - 10:02 am - Link - Report abuse 0And since their GDP is about to be reduced to nothing, that actually means that they won't have to pay anything at all.
So in other words, Argentina is paying sweet FA, and making a big song and dance about it. Typical MO for them though, isn't it?
In other news the ILOST will make its ruling on the Libertad tomorrow. IMO it won't be good news for Argentina.
“Vulture funds couldn’t make us enter a technical debt-default as they wanted.“
Dec 14th, 2012 - 11:28 am - Link - Report abuse 0Errr they also appealed the judges decision so that other creditors would not loose out due to Argentina defaulting - If i remember correctly! So hardly an Argentine Victory!
”And here is the proof that we do not need from international lenders to pay are debts.”
Really!!!! Ohhh well isn't that marvellous....oh hang on, so if you don't need international lenders, then how come you owe debt in the first place? You clearly needed to borrow money, otherwise you wouldn't have any debts to pay back right now!
Argentina will run into difficulties with high interest rates if it has to borrow more money as it is regarded as a 'pariah state' by most international money lenders.
Dec 14th, 2012 - 11:34 am - Link - Report abuse 0I bet TMBOA hasn't told this prat that they have just borrowed 6.5USDB, she is hoping to add it to her little Nestor Nest Egg S.A. account.
Dec 14th, 2012 - 11:36 am - Link - Report abuse 0LOLs
Does every RG minister look like a criminal?
Dec 14th, 2012 - 12:22 pm - Link - Report abuse 0I think there is a little confusion on the IDB loan, a 3 year plan was approved, which means the infrastructure projects and amounts were approved NOT DISBURSED.
They pushed through the approval process because of the pending IMF censure, during the 1st 6 month period of censure no new amounts at IDB WB IMFwill be approved. In the following 6 months no new disbursements. So you'll probably see the Rgs pushing for disbursements in the 1st 1/2 of 2013. They may or may not get them right now since USA/Spain/Italy and Germany are voting to withhold them so we'll see.
@7 Approving a $6bil loan to a country that actively seeks to avoid complying with even the most basic rules of the IMF doesn't seem like a good idea in my books.
Dec 14th, 2012 - 12:50 pm - Link - Report abuse 0@7 Withhold everything. Not a penny. Make them work for a change. They can get by on bread and water. Sell everything they have. Take everything they have. Make them suffer. Maybe they'll grow up!
Dec 14th, 2012 - 12:54 pm - Link - Report abuse 08. I think it happens because there are a lot of G4 Rgs working at IDB.
Dec 14th, 2012 - 01:06 pm - Link - Report abuse 0Lots.
It is going to be hard on them if they get kicked out of that one too. Then they have 30 days to get out of the USA unless they find another job which would be unlikely.
@10 Well, that's just a case of letting the lunatics run the asylum. Do the IDB not know that Argies don't understand how debts need to be repaid, and yet they allow them to remain as employees?
Dec 14th, 2012 - 02:10 pm - Link - Report abuse 0That's really surprising, and terrifying.
The way most the Int'l banks work is they are required to hire employees based on the members holding interest. So for example the USA owns ( I think) 21% of WB so then we also have 21% of the employees.
Dec 14th, 2012 - 02:34 pm - Link - Report abuse 0I am pretty sure IDB works the same but there seems to be an abundance of RGs, I spend quite a bit of time at the banks and I hear the accent, see the long hair, bad shoes and cheap suits and almost 100% keep their cell phones in a holster on their suit pants. They're pretty easy to spot!
@12 I can normally tell them because of their mullet, massive tattoo of maximo on the arm, massive tattoo of nestor on the neck, goose-stepping, brown shirted uniform, and smell of not having used loo-roll after toiletting.
Dec 14th, 2012 - 03:10 pm - Link - Report abuse 0LEP
Dec 14th, 2012 - 03:42 pm - Link - Report abuse 0Are you not reading properly anymore.Is the red mist affecting you.
http://www.buenosairesherald.com/article/119350/us-moves-to-back-argentina
Dec 14th, 2012 - 04:46 pm - Link - Report abuse 0@15 so what does that mean pro arg, not in your way of thinking but in reality.............shall I tell you NOTHING. And since it's in the state run BA herald and no other paper I can find it's probably Bull
Dec 14th, 2012 - 07:41 pm - Link - Report abuse 0A high tax on all exports can level the playing field. Am really fond of taxes, they seem like a good tool in capitalism.
Dec 15th, 2012 - 12:06 am - Link - Report abuse 0@17 High taxes and all exports equals shotgun to foot. Idiot you do realise that putting higher taxes on Argentine exports, only serves to damage Argentina's economy, business will lose vital foreign income for their goods, workers will lose their jobs. It will have no effect on other countries as they will simply get what they want from elsewhere!
Dec 15th, 2012 - 02:49 pm - Link - Report abuse 0Teaboy no tax from Starbucks is your problem.
Dec 15th, 2012 - 06:47 pm - Link - Report abuse 019 Yulelog
Dec 15th, 2012 - 07:08 pm - Link - Report abuse 0Stupity and lack of economic knowledge is clearly your problem!
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