Argentina

Saturday, August 30th 2014 - 11:06 UTC
Capital Markets accept review of sovereign default and making terms extensive to all bondholders

The International Capital Market Association (ICMA) published on Friday the revised framework that allows a majority of investors holding sovereign bonds that default to make changes to the terms, such as extending maturities or reducing the principal.
Saturday, August 30th 2014 - 08:01 UTC
Judge Griesa schedules new hearing; Argentina appeals to United Nations on holdout case

The US judge overseeing litigation by Argentina and creditors who did not participate in the country's past debt restructurings scheduled a hearing to assess whether Citigroup Inc (C.N) should be forced to comply with a subpoena.
Saturday, August 30th 2014 - 07:07 UTC
New World Bank delegate in Argentina; 'country strategy' to be considered next month

The World Bank board of directors will be discussing sometime next month a new aid program for Argentina focused on combating poverty, but the loans approval can't be expected until next year, according to the bank's new representative in Argentina, Jesko Hentschel.
Friday, August 29th 2014 - 08:07 UTC
Singer extends 'discovery' looking for Argentine assets in Chinese banks

As it did in Nevada and California, a unit of billionaire Paul Singer's Elliott Management, which is Argentina's main holdout creditor, is extending its legal fight with the country to China. NML Capital served subpoenas this week to Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) in an effort to obtain information on 6.8bn dollars in financing for deals signed by the two countries in July.
Friday, August 29th 2014 - 07:32 UTC
Malaysia Petronas joins YPF to develop shale-oil reserves in Argentina

Argentine government controlled energy company YPF said on Thursday it signed a 550 million dollars agreement with Malaysia's Petronas to develop shale-oil reserves in the massive Vaca Muerta formation.
Friday, August 29th 2014 - 06:46 UTC
Mercosur main partners in another attempt to re-launch withering economies

Argentine Economy minister Axel Kicillof left Buenos Aires on Thursday for Brazil, where he will meet with fellow ministers from the country to discuss the current situation of bilateral trade and the automotive industry.
Friday, August 29th 2014 - 06:17 UTC
Capitanich downplays success of strike and claims only well paid unions joined

Argentine cabinet chief Jorge Capitanich downplayed the success and support of Thursday's strike and stressed that the income tax, one of the key points in the protest only reaches 10.4% of workers and criticized radical groups for supporting those “who earn most”
Friday, August 29th 2014 - 06:04 UTC
Argentina says it won't yield to unions; controversy over success of the national strike

Argentina's Labor minister Carlos Tomada said that it is not a government’s priority to discuss the modification of the income tax or re-opening wage talks, as dissident unions demanded during a general strike on Thursday which partially paralyzed Buenos Aires city since several transport unions joined the stoppage.
Friday, August 29th 2014 - 05:56 UTC
Argentina will only negotiate with all bondholders: no more piecemeal debt talks

Argentina's government ruled out further piecemeal debt talks with a small group of U.S. hedge funds (holdouts) and said the country needed to strike a deal with all bondholders including those which have rejected past restructuring agreements as a single group.
Thursday, August 28th 2014 - 06:11 UTC
Dollar new record in Argentina: 14.45 Pesos; Capitanich blames 'speculative attacks'

While Argentine Cabinet Chief Jorge Capitanich claimed the country was suffering “speculative attacks“ to systematically erode the ”government’s credibility and trust” the US dollar in the Buenos Aires informal market continued to climb and ended Wednesday trading 25 cents higher at 14.45 Pesos.