Tag: Axel Kicillof

• Friday, May 8th 2015 - 07:37 UTC

  Argentina denies as 'inexact' any embargo on embassy bank funds in Belgium

  

  The Argentine government in a late release on Thursday strongly denied an 'inexact information' related to alleged embargos by speculative funds (or vulture funds) on bank accounts from the Argentine embassy and its staff, in Belgium, and said that the attempts to freeze 'embassy funds' are but a new extortion attempt and a clear procedure abuse which could be sanctioned by Belgian tribunals.

• Saturday, April 25th 2015 - 05:41 UTC

  Argentine economy picking up boosted by agriculture; manufacturing continues downfall

  

  Economic activity in Argentina expanded 1.4% in February compared to the same month last year, boosted by the agricultural sector and a hike in consumption, making it the highest increase since January 2014, according to the latest release from the country's stats office, Indec.

• Tuesday, March 31st 2015 - 05:44 UTC

  Unions bring Argentina to a halt over income tax and promise more industrial action

  

  Argentine Labor unions will carry out more strikes after a 24-hour walkout Tuesday, if the government doesn’t heed their demand for less tax pressure, a union leader said on Monday.“The measures of force are going to increase if (the government) continues with the provocations and without giving us a response to our demands,” trucker union boss Pablo Moyano said to a local radio station.

• Monday, March 30th 2015 - 06:47 UTC

  Citibank suspended in Argentina “until it revokes agreement with Griesa and holdout funds”

  

  Economy Minister Axel Kicillof said the suspension of Citibank Argentina, ordered by the National Securities Commission (CNV) financial watchdog, will stay in place until the bank revokes its agreement not to appeal US Judge Thomas Griesa’s ruling that interest payments on Argentina's restructured local law bonds could not be processed if the bank was allowed to make two one-off payments to help it exit its local custody business.

• Thursday, March 26th 2015 - 09:20 UTC

  Argentina considers Citigroup deal with US Judge Griesa could have violated local law

  

  Argentina's Economy Minister Axel Kicillof said on Wednesday a deal between Citigroup Inc and U.S. judge Thomas Griesa allowing the banking giant to process two Argentine debt payments violated the country's laws.

• Saturday, March 21st 2015 - 06:56 UTC

  Argentina's current account deficit widened to 5.07bn in 2014

  

  Argentina’s current account deficit widened 7.9% to 5.07 billion dollars in 2014 as Latin America’s third-biggest economy eked out meager 0.5% growth, official data showed. Exports fell 11.9% from 2013 to 71.94bn, hurt by low international prices for Argentine soy, wheat and corn as well as weakened demand in key trading partner Brazil, where economic growth is also stagnant.

• Thursday, March 19th 2015 - 08:01 UTC

  Argentina asks Citigroup how it will react to Judge Griesa' decision

  

  Argentine Economy Minister Axel Kicillof has revealed the government sent a letter to Citigroup asking how the bank will react, after New York district judge Thomas Griesa decided not to kill an injunction that blocked Citi from processing interest payments on 2.3 billion dollars of Argentina bonds, under Argentine law.

• Tuesday, March 17th 2015 - 07:39 UTC

  Cristina Fernandez manages to split the farmers’ united front after years of confrontation

  

  Argentine president Cristina Fernandez, on the campaign trail ahead of October’s national elections, announced on Monday the creation of a new fund which will reduce by up to 50% the 'retention' taxes on exportation rights paid by small and medium agriculture farmers.

• Friday, March 6th 2015 - 07:22 UTC

  Argentina denies any devaluation to compensate for the plunge of Brazil's Real

  

  Despite Brazil's 'violent devaluation' of its currency, Argentina will not pursue the same path because the country needs “to give certainty” and “avoid instability” said Economy minister Axel Kicillof. This week the Real plunged to its lowest level in over a decade burdened by economic and political uncertainty

• Wednesday, February 25th 2015 - 05:37 UTC

  Cristina Fernandez secluded to prepare her last 'State of the Nation' speech

  

  Argentine president Cristina Fernandez flew on Tuesday evening to Rio Gallegos, where according to the presidential agenda she will visit the mausoleum built by her to the memory of her late husband and former president Nestor Kirchner.