Argentina

Friday, August 1st 2014 - 08:42 UTC
UBS calls on Swaps Association to ask if a “failure to pay” event had occurred

The International Swaps and Derivatives Association (ISDA) said on Thursday it had received its first request to consider whether a credit event had occurred, according to the ISDA website.
Friday, August 1st 2014 - 08:33 UTC
US calls on Argentine government to seek 'practical solutions' with holdouts

Kevin Sullivan, US interim ambassador in Argentina affirmed on Thursday that the country must seek “practical solutions” with the 'holdouts' or the so called vulture funds over defaulted bonds.
Friday, August 1st 2014 - 08:24 UTC
Argentine shares and bonds plunge, while US dollar climbs as operators seek refuge

Argentine shares and bonds plunged on Thursday as investors reacted to the failed negotiations between Argentina and the holdout hedge funds in New York. At the Buenos Aires City stock market the Merval index closed down by 8.4% to 8,187.99 points, far from yesterday’s record 6.9% climb.
Friday, August 1st 2014 - 07:57 UTC
World economists call on US Congress to take action on the Argentina/holdouts rulings

Over 100 economists, including Nobel laureate Robert Solow, Branko Milanovic and Dani Rodrik called on the United States Congress to take action to mitigate the harmful fallout from the recent ruling by Judge Griesa of the U.S. District Court for the Southern District of New York that requires Argentina to pay holdout creditors at the same time as the majority of creditors.
Friday, August 1st 2014 - 07:52 UTC
Argentine president defies Judge Griesa rulings and mocks 'selective default'

President Cristina Fernández said on Thursday she will not “sign an agreement” that compromises Argentina's future, while blasting “vulture funds” for wanting to “collect Griesa's usurious sentence”, following the Wednesday failure of negotiations between the country and holdouts.
Friday, August 1st 2014 - 02:43 UTC
Saying Argentina has defaulted is “an atomic nonsense” underlines Kicillof

Argentina's Economy Minister Axel Kicillof denied point blank that Argentina defaulted on its debt and described such statement as “an atomic nonsense”. The minister gave a press conference in Buenos Aires a day after the failed negotiations with holdouts in New York and claimed ”those who today cheer the apocalypse, applauded the 2001 (crisis).”
Thursday, July 31st 2014 - 22:10 UTC
Judge Griesa summons Argentina and holdouts for a Friday hearing

After negotiations between the Argentine government and the speculative funds, led by US Special Master Daniel Pollack failed, New York District Judge Thomas Griesa called for a new hearing between the parties for Friday at 12 pm (Argentina time).
Thursday, July 31st 2014 - 07:05 UTC
Kicillof blames Judge Griesa for the 'no-deal' situation with holdouts

Argentina failed to strike a deal to avert its second default in more than 12 years after talks with holdout creditors and special mediator Daniel Pollack ended without a settlement on Wednesday.
Thursday, July 31st 2014 - 07:01 UTC
Argentine football decrees 7-day mourn for Grondona's death; Blatter expected for the funeral

The head of the Argentine Football Association (AFA) and second-in-command of the FIFA international football governing body passed away at the Sanatorio Mitre private medical center where he had been hospitalized for a cardiac failure earlier on Wednesday.
Thursday, July 31st 2014 - 06:55 UTC
Argentine private banks discussing bond purchase from holdouts

The meeting between Argentine private bank representatives and the 'holdouts' over the debt held by the hedge funds has been adjourned and will be resumed on Thursday, according to Buenos Aires financial daily Ambito.com.