The Organization for Economic Cooperation and Development Investments Committee has decided to support Uruguay's incorporation as full member of that committee. The decision follows a review by the Committee of Uruguayan investment policies.
Argentina said it didn’t make US$ 500 million in debt payments due Wednesday, starting a 30-day countdown to a possible default unless the government and bondholders can reach a deal on restructuring its massive foreign debt.
Argentina’s Senate voted in favor of a bill on Wednesday that grants power to the government of President Alberto Fernandez to handle a massive debt restructuring of bonds issued in foreign currency.
Pope Francis staged a surprise visit to admonish the International Monetary Fund chief and several finance ministers to help alleviate the debt burden of struggling countries, calling for “a new financial architecture” to ensure social justice.
Argentina's Economy Minister Martin Guzman iis in New York and on Monday will be participating of a conference at the Council of Americas. Later in the day he will meet h International Monetary Fund and U.S. Treasury officials, as part of Argentina's efforts to revive growth and renegotiate its debts.
Inflation in Argentina ended 2019 at 53.8%, the highest figure since 1991 when the peso was pegged to the US dollar, data institute Indec said on Wednesday. Indec said the cost of living increased by 3.7% in December alone.
China moved to pump more cash into its financial system, suggesting that Beijing remained concerned about faltering growth despite signs that the world's second-largest economy was stabilizing.
The Argentine government will continue to honor its debt while it works to reach an agreement with creditors, both the IMF and private bond holders, with the purpose of refinancing commitments and achieve a long term sustainable path for the payments, according to sources from the Economy ministry.
The tech-rich Nasdaq finished above 9,000 for the first time on Thursday, powering to its 10th straight record on gains by Amazon and other tech giants. The Nasdaq surged 69.51 points (0.78 percent) to finish the post-holiday session at 9,022.39.
Argentina appointed a government team to kick off talks with creditors to renegotiate about US$100 billion in sovereign debt as the new center-left administration of President Alberto Fernandez postponed payments on some of its short-term debt.