Argentina has reached an agreement with creditors to restructure around US$ 65 billion in sovereign debt, breaking a deadlock in talks that will help the country climb out of default and banish fears of a damaging and protracted legal standoff.
Argentina is battling to escape from a messy ninth sovereign default as it firefights recession, stubborn inflation, and increasingly wary investors. The country announced on Tuesday it had reached an agreement with creditors to restructure around US$ 65 billion in foreign debt, breaking a deadlock over recent weeks and setting the stage for a formal deal later this month.
Planning and first budget funds for an Argentine integrated naval base and an Antarctic Logistic Pole in Ushuaia have been announced by the Argentine Executive cabinet chief Santiago Cafiero, during a presentation to the Lower House of Congress.
Itaú Unibanco Holding SA’s Chief Executive Candido Bracher said on Tuesday that next year he sees Brazil’s 90-day default ratio reaching higher levels than in a previous crisis.
Lebanon is in mourning after a huge explosion in the capital Beirut killed at least 78 people and injured more than 4,000 others on Tuesday. The whole city was shaken by the blast, which began with a fire at the port which exploded into a mushroom cloud.
A U.S. judge on Tuesday sentenced former Google engineer Anthony Levandowski to 18 months in prison for stealing a trade secret from Google related to self-driving cars months before becoming the head of Uber Technologies Inc’s (UBER.N) rival unit.
The gloom surrounding Brazil’s economy lifted for a fifth week in a row, a central bank survey of economists showed on Monday, with the average forecast for 2020 gross domestic product now showing a decline of 5.7%.
Brazilian officials say they can start making COVID-19 vaccines developed by British and Chinese researchers within a year. Experts say it will take at least twice as long, leaving Brazil reliant on imports to slow the world's second-worst outbreak.
Just over two months after completing a special outflow to increase the level of the drought-stricken Paraná River, the world largest operational hydroelectric dam, Itaipu, located on the border of Brazil with Paraguay, will increase energy production to help sailing along the huge South American water artery.