The International Tribunal for the Law of the Sea announced that the decision on the case involving the Argentine Navy frigate ARA Libertad retained in Ghana will be made public next 15 December. On Thursday both sides made their case in a several hours hearing at the seat of the tribunal in Hamburg.
President Cristina Fernández de Kirchner ratified on Wednesday that Argentina will continue to pay all its financial obligations and described as “absolutely unfair” the ruling from Judge Thomas Griesa who favoured the hedge funds to the detriment of 93% of bondholders who joined the 2005 and 2010 debt swaps.
Argentine president Cristina Fernandez announced on Wednesday that wellhead natural gas prices are to rise substantially from current levels, an estimated 44%, with the purpose of attracting more investments and increasing production.
A US appeals court on Wednesday granted an emergency stay order that gives Argentina more time to argue against making a 1.33 billion dollars payment to investors who rejected two debt restructurings in the nation's 2002 sovereign debt default.
The International Maritime Organization (IMO) certified that the ARA Libertad frigate is a military vessel, therefore, it can not be impounded, Argentina's ambassador to the UK, Alicia Castro, reported.
Argentina faces 42 claims at the World Bank’s ICSID in which the plaintiffs are demanding compensations for almost 65 billion dollars, revealed Eduardo Barcesat legal advisor to the Argentine Treasury and one of several lawyers who has defended the country in those litigations.
Fitch Ratings agency announced on Tuesday it has downgraded Argentina's long-term foreign currency Issuer Default Rating from B to CC, with a negative outlook, as it sees a probable default if the country misses its payment to holdout investors.
Peruvian president Ollanta Humala expressed solidarity with Argentina in the Malvinas Islands issue and said that “the problems of the region are common problems” for all countries.
During a ceremony to receive visiting Peruvian leader Ollanta Humala Argentine President Cristina Fernández said that she would make a plea for Unasur members to come together in the fight against ‘vulture funds’ (hedge funds) when the region’s leaders meet this week in Lima.
Economy Minister Hernan Lorenzino described the appeal presented on Monday by Argentina against the ruling of New York Judge Thomas Griesa as “very forceful”, and pointed out that if the magistrate had proposed to treat hedge funds demands under the terms of the 2010 debt-swap, the Argentine congress might then address the option.