Foreign Office minister Hugo Swire was on a five day visit to Costa Rica, Guatemala and Colombia this week, following recent elections in both countries and with the purpose of expanding political and trade relations.
A US judge has scheduled a hearing for Friday after hedge funds suing to collect on defaulted debt issued by Argentina complained about the country's plans to make a payment to creditors who participated in its past restructurings.
Argentina announced on Thursday morning it had deposited a billion dollars to honor restructured bonds' 30 June payment and at the same again asked for a new stay from New York Judge Thomas Griesa on the 'pari passu' ruling that forces the country to also pay holdouts 100% of defaulted bonds face value.
Cabinet Chief Jorge Capitanich praised the “clear, categorical and broad” support for Argentina’s stance in its dispute with speculative funds' holdouts from 133 countries from the UN system and specialized international media, and also confirmed that next month it will make the first payment of the agreement reached with the Paris Club.
A large cross-party group of British parliamentarians, renowned economists, intellectuals, journalists, public opinion leaders, trade unionists and activists added their names to a statement of solidarity with Argentina against vulture funds, which they handed on to the Embassy of Argentina in London.
The Council on Foreign Relations, one of the most influential private organizations in US Foreign Policy, questioned the US Supreme Court for rejecting Argentina’s appeal in its legal dispute with the so-called vulture funds, saying the ruling will diminish national sovereignty and upend international finance.
Brazil had a current account deficit of 6.635 billion in May, above the previous record high of 6.356 billion for this month posted last year, central bank data showed this week. It was the widest on record for the month of May as Brazilians spent more on international travel and foreign companies sent profits and dividends abroad. Brazil's current account deficit in April was 8.291 billion.
Brazil's economy added a net 58,836 payroll jobs in May, the Labor Ministry said, which is the worst figure for May since 1992. Brazil added 105,000 jobs in April.
The United Nations trade and development agency UNCTAD said on Wednesday in a rare release that the recent U.S. court ruling on Argentina's debt erodes sovereign immunity and does not comply with the country's own U.S. Foreign Sovereign Immunities Act.
Economy minister Axel Kicillof said US courts haven't yet responded to Argentina's request this week for more time to negotiate a settlement with a small group of holdout creditors and warned the country could face a technical default next Monday if the sentence remains firm.