Argentina

• Tuesday, July 24th 2012 - 21:13 UTC

  US sides with Argentina in “pari-passu” controversy with defaulted bondholders

  

  Argentina asked a US federal appeals court to reverse lower-court rulings that could help creditors including Elliott Management Corp.’s NML Capital Fund collect on 1.4 billion dollars in defaulted bonds.

• Tuesday, July 24th 2012 - 21:06 UTC

  Bingo decides the order of municipal staff payments in Argentine town

  

  A bingo is determining which civil servants in a small Argentine town will receive their pay, due to insufficient funds, its mayor announced on Monday.

• Tuesday, July 24th 2012 - 20:57 UTC

  Chavez in a veiled threat tells Spain’s Repsol to seek agreement with Argentina

  

  Venezuelan President Hugo Chavez advised Repsol to seek a friendly agreement in its dispute with Argentina and noted that the Spanish energy company held important assets in his country.

• Tuesday, July 24th 2012 - 06:40 UTC

  The only ‘coup’ was including Venezuela in Mercosur with Paraguay suspended

  

  Paraguayan president Federico Franco said on Monday that the only coup, if that is the word, was implemented by Mercosur from the moment they left Paraguay out of the decision to incorporate Venezuela as a full member of the group.

• Monday, July 23rd 2012 - 20:02 UTC

  Sao Paulo benefits from Argentina’s lack of “legal and economic security”

  

  The President of Investe São Paulo -the gateway for companies that intend to settle their operations in the Brazilian state- referred to the ongoing foreign investment boom in the neighbouring country is due in part to the “lack of both legal and economic security that Argentina and its government have.”

• Monday, July 23rd 2012 - 19:16 UTC

  Paraguay could appeal Mercosur sanctions before the International Court of Justice

  

  Paraguay is prepared to demand Mercosur co-members before the International Court of Justice at The Hague for what it describes as “violation of signed treaties” and sustained “international isolation” following the rejection of an appeal to have sanctions lifted.

• Monday, July 23rd 2012 - 02:55 UTC

  Olympic Committee “glad” Argentina will avoid politically tainted demonstrations

  

  The head of the International Olympic Committee Jacques Rogge assured he was “glad” that President Cristina Fernández had called the Argentine athletes to avoid demonstrations over the Falklands/Malvinas Islands sovereignty dispute during the Olympic Games of London 2012.

• Saturday, July 21st 2012 - 07:51 UTC

  Chavez confirms Dilma’s invitation to Mercosur meeting in Rio on July 31

  

  Venezuelan president Hugo Chavez said he had talked with his peer from Brazil Dilma Rousseff who confirmed the invitation to an extraordinary meeting of Mercosur next July 31 in Rio do Janeiro.

• Saturday, July 21st 2012 - 07:32 UTC

  Bad news for Argentina: economy contracts and industrial production slumps

  

  Argentina's economy contracted in May and industrial production slumped further in June, according to government data released on Friday. Economic activity fell 0.5% in May year-on-year, slowing from April's 0.6% growth rate and marking the first contraction in 34 months.

• Saturday, July 21st 2012 - 07:17 UTC

  YPF building credibility buys back 79 million dollars in 2028 bonds

  

  Argentina's nationalized oil and gas company YPF said on Friday it had bought back 79 million dollars in 2028 bonds that it was obliged to repurchase in the case of a state takeover.