Argentina’s central bank auctioned a total of US$ 200 million of its reserves in two separate currency auctions on Tuesday after the peso hit new lows, the monetary authority said in a statement.
US Supreme Court is likely to issue a ruling in the upcoming months favoring Argentina’s position in the country’s dispute against hedge funds ('vulture funds'), anticipated former Argentine Finances Secretary Guillermo Nielsen.
The US State Department said on Wednesday that Argentina must normalize relations with creditors. The statement follows an announcement last week from the Treasury Department warning that the US will vote against granting loans to Argentina in multilateral organizations.
On Sunday, Cristina Fernández de Kirchner will be seeking approval to lead the FPV in October’s general elections. With the country currently braving the world’s economic storm, she is keen to keep up appearances.
Holders of Greek bonds will suffer a larger ‘hair cut’ than that experienced by Argentine creditors forecasts Argentina’s former Finance Secretary Guillermo Nielsen who played a crucial role in negotiations with creditors following the 2002 default.