Argentina

• Saturday, August 16th 2014 - 08:32 UTC

  Argentine official inflation in July, 1.4% and 16.7% in first seven months

  

  Argentine inflation rose 1.4% during July leaving consumer prices 16.7% higher than at the beginning of the year, official data showed on Friday. The July index was slightly higher than the 1.3% of June and confirms Argentina is experiencing one of the highest inflation rates in the world and only second to Venezuela in Latin America.

• Friday, August 15th 2014 - 07:13 UTC

  Cristina Fernandez will use anti-terrorism law against US company that closed its Argentine plant

  

  Argentina's government will use an anti-terrorism law for the first time to seek criminal charges against a U.S.-based international printing firm which closed its Argentine plant without warning, president Cristina Fernández said on Thursday. She linked the company to some of the hedge funds in litigation with Argentina over defaulted bonds.

• Friday, August 15th 2014 - 06:51 UTC

  Auction 21 August to settle (and possible payout) of Argentina's defaulted swaps

  

  The International Swaps and Derivatives Association (ISDA) will hold an auction on August 21 to settle Argentina’s default swaps. The auction, run by Creditex and Markit, will determine the payout that holders of protection on Argentine debt (CDS) will receive as a result of the default on July 30.

• Friday, August 15th 2014 - 06:47 UTC

  New record for the US dollar in Argentina's 'blue market', 13.20 Pesos

  

  The US dollar in Argentine money markets continued its rising path on Thursday with a new record climb to close at 13.20 Pesos. This so-called “blue” dollar had jumped 20 cents to 13.15 pesos on Wednesday, breaking its 13.06 Pesos record from 23 January.

• Friday, August 15th 2014 - 06:44 UTC

  Argentine July inflation 2.47% and 39.71% in twelve months, according to Congress index

  

  July consumer prices index in Argentina according to the so called Congressional index, climbed 2,47% and 39.71% in the last twelve months. The same index marked 2.2% in June indicating a growing tendency.

• Friday, August 15th 2014 - 02:24 UTC

  YPF announces new shale oil find in Neuquen-Mendoza area

  

  Argentine state-controlled energy company YPF on Thursday announced a shale oil find in the southwestern province of Neuquen in Patagonia. The discovery was made at the Agrio formation, according to CEO Miguel Galuccio, who said at a press conference that production operations will be carried from the neighboring province of Mendoza.

• Thursday, August 14th 2014 - 06:44 UTC

  Aurelius Capital confirms no deal with banks on Argentina's bonds

  

  Argentine holdout creditor Aurelius Capital Management has said that after talks with many financial institutions, the prospects for finding a private-settlement solution to the Argentine sovereign debt dispute had garnered no realistic proposals.

• Thursday, August 14th 2014 - 06:34 UTC

  Talks between global banks and Argentine creditor hedge fund “collapsed”

  

  Talks between a group of global banks and at least one major hedge fund about buying a portion of the fund's exposure to Argentine debt have collapsed, a person familiar with the matter told sources in Buenos Aires, amid concerns that the Argentine government has dug in to its refusal to pay certain creditors what they are owed and may not relent for months to come.

• Thursday, August 14th 2014 - 06:11 UTC

  Argentina: US dollar reaches a new record of 13.15 Pesos in Buenos Aires 'blue' market

  

  The US dollars climbed to a record 13.15 Pesos on the black or 'blue' market on Wednesday trading as fears mount regarding the outcome of the holdout bonds conflict with the New York court. The official dollar rate closed at 8.2750 Pesos.

• Thursday, August 14th 2014 - 05:41 UTC

  US Nevada court grants 'holdouts' discovery rights into assets of Kirchner family friends

  

  The hedge fund Elliott Management secured a victory on Tuesday in its pursuit of Argentine assets abroad, as a court in the US state of Nevada granted the corporation discovery rights to 123 companies allegedly linked to the Santa Cruz public works tycoon Lazaro Baez, and believed to be closely linked to the Kirchner family.