Economy

• Saturday, July 12th 2014 - 11:21 UTC

  Holdouts claim the Argentine government refuses to negotiate with hedge funds

  

  The holdout hedge fund Elliott Management Corp representative emerged on Friday from five hours of meetings in New York with a court-appointed mediator, claiming the Argentine government still refuses to have negotiation years after its historic default.

• Saturday, July 12th 2014 - 11:00 UTC

  Pollack's hope is that dialogue between holdouts and Argentina will continue

  

  Argentine officials and holdout investors met separately with the New York court-appointed mediator or 'Special Master' for five hours on Friday, presenting their cases in hopes of resolving a litigation on defaulted bonds that has dragged on for years.

• Saturday, July 12th 2014 - 10:13 UTC

  CFK invites regional presidents to the official dinner for Russia's Putin

  

  President Cristina Fernandez, CFK, invited her peers from Bolivia, Uruguay and Venezuela, Evo Morales, Jose Mujica and Nicolas Maduro respectively to participate in a special dinner after her meeting with the Russian head of state, Vladimir Putin on Saturday.

• Friday, July 11th 2014 - 22:28 UTC

  Falklands: Premier looking for a partner to develop the 5bn Sea Lion project

  

  Premier Oil Plc newly appointed Chief Executive Officer Tony Durrant said that one of his priorities is to find a partner to share the 5bn dollar investment to develop the Sea Lion project off the Falkland Islands, because it does not want to become a 'pure Falkland Islands company in five years time'.

• Friday, July 11th 2014 - 06:36 UTC

  Brazil's next government will have to implement a tough fiscal tightening, says Fitch

  

  Fitch Ratings on Thursday reaffirmed Brazil's “BBB” credit rating with a stable outlook, but added it expects the next government to control spending in order to avoid additional fiscal deterioration that could trigger a downgrade.

• Friday, July 11th 2014 - 06:19 UTC

  JP Morgan requests 'clarification' from Judge Griesa to pay Japanese bondholders

  

  JP Morgan bank, the entity responsible for the payment to Argentina's Japanese bondholders has sent a letter to US Federal Judge Thomas Griesa, requesting “a clarification” in order to deliver the funds to the nation's creditors.

• Friday, July 11th 2014 - 06:14 UTC

  Pollack says Argentina, hold-outs and legal representatives will meet on Friday

  

  Special master Daniel Pollack revealed on Thursday he has been talking with holdout funds and Argentine lawyers “on a daily basis”, one day before an Economy Ministry committee travels to New York to meet the mediator in the funds/Argentina litigation case for the second time.

• Friday, July 11th 2014 - 01:37 UTC

  Uruguay central bank admits inflation remains the main concern and pledges monetary contraction

  

  Uruguay's Central bank confirmed that inflation remains the leading challenge and ratified the current monetary contractive policy with the M1 money supply index converging to 8% from its current 10.4%, in a 'not too distant horizon'.

• Thursday, July 10th 2014 - 21:48 UTC

  Fed will end asset purchases in October, but no decision yet on interest rates

  

  The Federal Reserve has begun detailing how it plans to ease the US economy out of an era of loose monetary policy, indicating it will end its asset purchases in October and appearing near agreement on a plan to manage interest rates in the future, according to minutes of the last Fed policy meeting.

• Wednesday, July 9th 2014 - 08:21 UTC

  Kicillof blasts holdouts: “they never negotiated or lent money to Argentina”

  

  Argentine Economy minister Axel Kicillof responded fiercely to criticisms directed at him and the Argentine government by Elliott Management portfolio manager Jay Newman, reminding the representative of the holdout investors that they have never lent a cent to Argentina.