The Union of Southern Nations (UNASUR) expressed its solidarity with Argentina after US Supreme Court decision to dismiss the country’s appeal in its legal dispute with holdout hedge funds, rejecting “the behavior of speculative agents that endanger the agreements reached between debtors and creditors”.
Argentina’s bond fight against holdout hedge funds will reach the United Nations headquarters on Wednesday when Economy Minister Axel Kicillof addresses the G77 plus China 134-nations plenary on Argentina's debt restructuring process.
Hedge fund NML Capital have dismissed the Argentine government's request to reestablish a stay on payments to the holdout hedge funds, and called on New York judge Thomas Griesa to reject the plea.
New York district court judge Thomas Griesa on Monday appointed a Manhattan attorney to supervise talks between Argentina and hedge fund holdout bondholders after the government of President Cristina Fernandez asked him to organize negotiations with its creditors.
Argentina asked a U.S. judge on Monday to issue a stay of his ruling against the country in its case against holdout creditors as it sought to avoid a possible new default. The country is in a 12-year-old legal fight with investors who declined to participate in bond restructurings (2005 and 2010) after the country defaulted on 100 billion dollars in sovereign debt in 2002.
Representatives from Falkland Islands Holidays and International Tours and Travel travelled to London last week to attend ‘Experience Latin America’. Cathy Jacobsen (ITT) and Jenny Luxton (FIH) were both pleased with the level of interest expressed in the Falklands at the three day trade to trade event for the travel industry.
The 21st June was Mid-Winter’s Day in The British Antarctic Territory and to mark the occasion, Commissioner Dr Peter Hayes has written to UK Base (Rothera, Halley, King Edward Point, Bird Island) Commanders and staff to thank them for their ongoing hard work within the Territory.
Argentina's economy contracted during the first quarter of the year as high inflation and weak exports to top trade partner Brazil took a toll. During the first three months of the year, GDP fell by 0.2% on the year and contracted 0.8% on the quarter, the national statistics agency Indec reported Monday.
Brazil's supermodel Gisele Bündchen who was to deliver the World Cup to the winning team next 13 July has declined the invitation from FIFA. Allegedly Gisele does not want to link her image to an event which has been highly criticized by Brazilian public opinion, according to the Brazilian media.