Argentina

• Tuesday, June 24th 2014 - 23:30 UTC

  Argentina's bond fight with holdouts will be addressed by G-77 plus China

  

  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.

• Tuesday, June 24th 2014 - 22:37 UTC

  Hedge fund calls on Judge Griesa to reject 'stay' order requested by Argentina

  

  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.

• Tuesday, June 24th 2014 - 06:54 UTC

  Griesa appoints mediator for talks between Argentina and holdout hedge funds

  

  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.

• Tuesday, June 24th 2014 - 06:42 UTC

  Argentina requests a 'stay' order on the ruling favoring holdout 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.

• Tuesday, June 24th 2014 - 04:26 UTC

  Argentine economy contracts 0.2% in first quarter; 2013 growth down to 2.9%

  

  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.

• Monday, June 23rd 2014 - 04:39 UTC

  Mercosur and Celac stand by Argentina in the hedge funds litigation

  

  Mercosur and Celac country-members expressed support for Argentina and its ongoing litigation with the holdout hedge funds, particularly last week's decision from the US Supreme Court, (which refused to consider the case), and the financial consequences emerging from such a position.

• Monday, June 23rd 2014 - 04:27 UTC

  Argentina takes its differences with Judge Griesa to the US main journals

  

  Argentina on Sunday took its battle against paying hedge fund investors in its defaulted bonds to the US media, placing adverts in major newspapers demanding US courts help foster “fair and balanced” negotiations.

• Monday, June 23rd 2014 - 04:08 UTC

  Jubilee Debt Campaign supports Argentina against “vulture funds” quick bucks

  

  The following letter under the heading of “Urgent need for legislation on Argentina debt” was published in the Financial Times and refers to the ongoing battle with the holdout hedge funds.The piece is signed by Tim Jones, Policy Officer, Jubilee Debt Campaign, London, N1, UK.

• Saturday, June 21st 2014 - 09:45 UTC

  Strong warning to Argentina from Griesa regarding payment of bondholders

  

  US Federal Judge Thomas Griesa, ratified on Friday through an official letter that Argentina’s proposal to carry out a debt exchange and pay its bondholders in Buenos Aires represents a “violation of the rulings and procedures.”

• Saturday, June 21st 2014 - 09:31 UTC

  Cristina Fernandez calls for negotiations: “we want to pay 100% of creditors”

  

  In a conciliatory speech compared to previous statements, President Cristina Fernandez said on Friday her government would negotiate with all of Argentina's creditors in a bid to avoid a new debt default that would further weaken the country's ailing economy.