Brazil is seriously considering retaliation against Argentina for new rules restricting food imports which allegedly compete directly with Argentine production. EU ambassadors in Buenos Aires made a similar presentation before the Argentine congress earlier this week.
The Argentine government said it will refinance 89% of the debt that most of the country’s provinces hold with the federal government, announced President Cristina Fernandez de Kirchner and Economy Minister Amado Boudou.
In an extensive report, the Task Force Argentina (TFA)—which represents Italians holding some 4.5 billion US dollars in defaulted Argentine sovereign bonds—gave an ambiguous declaration over Argentina's debt-swap plan.
Argentine Economy Minister Amado Boudou held a meeting Tuesday with 40 international investors at the New York Palace Hotel, within the framework of his United States road show to encourage bondholders to join the Government's debt-swap.
Argentina filed with United States regulators the terms of its offer to swap up to 20 billion US dollars in defaulted debt, bringing the exchange a step closer to launching.
European financial regulators approved the outlines of the Argentine swap offer on up to 20 billion US dollars in defaulted bonds, putting Argentina a step closer to launching the exchange. The country aims to return to international debt markets by striking a deal with “holdout” creditors who rejected a tough 2005 restructuring of nearly 100 billion US dollars in defaulted debt.
Economy Minister Amado Boudou said that the Argentine Government “will not accept any conditions” on its economic policies, allegedly rejecting an eventual revision of its accounts by the International Monetary Fund (IMF).