Argentina

• Friday, May 15th 2020 - 08:49 UTC

  Next Monday Itaipu opens its spillway to help lift the drought stricken Parana river level

  

  The world's largest operational hydroelectric dam, Itaipu Plant announced that starting next Monday, May 18, it will open its spillway to help Paraguay and Argentina, which are suffering from a drought and hence having problems transporting their grain harvest.

• Wednesday, May 13th 2020 - 07:55 UTC

  Modest optimism Argentina and bondholders can strike a deal by 22 May

  

  Argentine bonds jumped on Tuesday as the country’s government and creditors sought to strike a deal to restructure US$ 65 billion in foreign debt by May 22 after an initial deadline passed last week without a pact.

• Wednesday, May 13th 2020 - 07:49 UTC

  Parana River embankment collapse hampers Argentina's grains exports

  

  Ships transporting cargo from Argentina's Rosario grain hub through the Parana River are having to reduce their cargoes after a bank collapse obstructed the navigation channel, exporters have revealed.

• Tuesday, May 12th 2020 - 09:00 UTC

  Argentina extends debt negotiations deadline to “increase participation” and “better alternatives”

  

  Argentina will extend negotiations over a US$ 65bn debt restructuring proposal until May 22, the government said in the official gazette on Monday. The extension sets the stage for tense last-ditch talks as Argentina races to avoid default.

• Monday, May 11th 2020 - 08:40 UTC

  Argentina expected to make official the extension of debt offer deadline

  

  Argentina is preparing to extend the deadline to its debt offer to May 22. The government will publish an extension to its debt offer in the official Gazette this Monday, part of President Alberto Fernandez’s next steps in its debt restructuring after extending a deadline over the weekend for creditors to accept an initial offer to exchange $65 billion in overseas bonds.

• Saturday, May 9th 2020 - 08:58 UTC

  Argentina extends mandatory lockdown in Buenos Aires and metropolitan area

  

  After 50 days in mandatory lockdown, Argentina's President Alberto Fernández announced on Friday that the quarantine will be extended until May 24th.

• Saturday, May 9th 2020 - 08:57 UTC

  Argentina open to proposals from bondholders: default deadline stands at 22 May

  

  Argentina will keep pushing for talks with creditors even as a deadline for its US$ 65 billion debt restructuring proposal passed on Friday with little sign it had the support needed from international bondholders to unlock a comprehensive deal. Apparently on averaged less than 20% of bondholders accepted Argentina's conditions

• Friday, May 8th 2020 - 09:23 UTC

  Argentina's countdown to ninth default; some bondholders and IMF trust a last minute understanding

  

  Argentina's Economy Minister Martin Guzman has given the country's biggest bondholders until this Friday to accept the offer he has put on the table to suspend payments until 2023 and reduce interest rates thereafter. One of the largest of those creditors, the investment management firm BlackRock, rejected Guzman's proposal and immediately presented a counteroffer.

• Thursday, May 7th 2020 - 13:10 UTC

  Hundreds of activists in Buenos Aires demand food for soup kitchens

  

  Several hundred activists blocked this week one of Buenos Aires' main avenues for hours to demand food for soup kitchens that feed hundreds of thousands in poor neighborhoods during the mandatory lockdown aimed at preventing the spread of the new coronavirus.

• Thursday, May 7th 2020 - 12:47 UTC

  Restructuring Argentina’s Private Debt is Essential

  

  By Joseph Stiglitz, Edmund S. Phelps, and Carmen Reinhart (*) – Argentina's creditors are being asked to accept a proposal that would reduce their revenue stream but make it sustainable. A responsible resolution will set a positive precedent, not only for Argentina but for the international financial system as a whole.