Politics

• Friday, August 22nd 2014 - 08:20 UTC

  Nobel Prize Stiglitz sides with Argentina in reopening the debt swap

  

  In an interview with Argentina’s daily 'Ambito Financiero', Nobel Economics laureate Joseph Stiglitz considered the Argentine government’s move to reopen the debt swap and replace the Bank of New York Mellon with local Banco Nacion as trustee a “good call” saying the reopening would not be mandatory, “voluntarily” inviting bondholders to join the strategy.

• Friday, August 22nd 2014 - 08:04 UTC

  Argentina suspends beef exports 15-days to contain domestic prices

  

  The Argentine government has decided to restrict beef exports for a 15-day period seeking to stem the rise of prices in the domestic market. The decision was confirmed by Cabinet Chief Jorge Capitanich and sparked criticism by business leaders in the sector with some voices saying the strategy will have “no positive effects.”

• Friday, August 22nd 2014 - 07:43 UTC

  Argentina describes Griesa as 'ignorant' and lacking knowledge on democratic institutions

  

  The Argentine government again blasted Judge Thomas Griesa for declaring 'illegal' the bill sent to Congress referred to the country's debt and creditors, and said the magistrate “ignores national sovereignty” and “ignores how democratic institutions function”.

• Friday, August 22nd 2014 - 07:33 UTC

  European holders of swapped Argentine bonds willing to accept removal of the RUFO clause

  

  European investors holding 5.2 billion dollars of restructured Argentine bonds are negotiating the removal of the Rights Upon Future Options (RUFO) clause that Argentina claims prevents them from negotiating with holdout funds, it was reported in the Buenos Aires media.

• Friday, August 22nd 2014 - 07:17 UTC

  Griesa leaves Argentina 'in contempt' ledge; warns any change of jurisdiction was 'lawless'

  

  US District Judge Thomas Griesa declared on Thursday that an Argentine plan to change the 'jurisdiction' of restructured foreign debt was illegal, while resisting holdout investors' demands that Argentina be held in contempt of court for attempting to change the site of payment to Buenos Aires.

• Friday, August 22nd 2014 - 07:07 UTC

  Depressed Brazilian economy becomes focus of presidential campaign

  

  With less than two months to the crucial 5 October presidential election, Brazil's Central Bank continued to battle economic turmoil increasing the credit available for commercial loans in the hope of boosting the country’s stagnant growth figures.

• Thursday, August 21st 2014 - 08:30 UTC

  Kicillof: “no change of NY jurisdiction, but a change of payment location”

  

  Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.

• Thursday, August 21st 2014 - 08:06 UTC

  'A contempt of court does not apply to sovereign Argentina', says Capitanich

  

  Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following Argentine President Cristina Fernández decision to push a bill to change the payment jurisdiction to Buenos Aires, Cabinet Chief Jorge Capitanich pointed out that as a “sovereign country” Argentina cannot end up in contempt despite Griesa’s warnings.

• Thursday, August 21st 2014 - 07:55 UTC

  Falklands war vessel in which Argentina surrendered South Georgia, to the scrap yard

  

  The Royal Navy man-o-war on which Argentina formally surrendered the island of South Georgia during the 1982 Falklands War began its final journey on Wednesday before being scrapped. HMS Plymouth could not be saved despite years of attempts to find a permanent home for the frigate.

• Thursday, August 21st 2014 - 07:46 UTC

  'Malvinas Institute' in La Plata university to research 'sovereignty policies'

  

  The University of La Plata, province of Buenos Aires, is setting up a “Malvinas Institute” that will specialize in 'sovereignty policies' research, as part of the Political Sciences department. The new research and extension center will be located in a former military barracks in downtown La Plata which was ceased to the university.