Tag: Hernán Lorenzino

• Thursday, March 21st 2013 - 06:14 UTC

  Urgent meeting of Argentine economic team as US dollar jumps 10% to 8.75 Pesos

  

  President Cristina Fernandez called an urgent meeting on Wednesday evening of her economic team following a day of hectic trading in the currency exchange market which had the US dollar climb to 8.75 Pesos in the parallel market, expanding the gap with the official rate to almost 70%.

• Friday, March 1st 2013 - 14:21 UTC

  Markets fear Argentina could be en route to a ‘technical’ default

  

  “We are representing a government, and governments will not be told to do things that fundamentally violate their principles” lawyer Jonathan Blackman told the Manhattan US appeals court.

• Thursday, February 28th 2013 - 06:13 UTC

  Argentina urges ‘workable’ solution from US appeals court to dispute with holdout bondholders

  

  Argentina's defence urged a US appeals court on Wednesday to come up with a “workable” solution to its long-running fight with so-called holdout bondholders, and assured the country will not pay an amount exceeding the one set in the debt-swaps.

• Saturday, February 2nd 2013 - 20:07 UTC

  Argentina lashes back at the IMF but announces new CPI for this year

  

  Following Friday’s IMF ‘declaration of censure’ on Argentina because of the lack of reliability in its inflation and GDP stats, and the country’s first reaction virtually describing the Fund as mother of all financial evils, Minister of Economy Hernan Lorenzino announced a new ‘national’ Consumers Prices Index to be implemented in the course of this year and which will replace the current GBA-IPC.

• Friday, December 14th 2012 - 05:15 UTC

  Argentina announces payments of over 3.5bn dollars in GDP-linked bonds

  

  Economy Minister Hernán Lorenzino announced on Thursday Argentina will be making payments for more than 3.5 billion dollars in GDP-linked bonds, at the Economy Ministry.
  Lorenzino presented the payment as a triumph against the hedge-funds.

• Thursday, November 29th 2012 - 00:31 UTC

  Argentina saved from a ‘technical default’; court case continues February 27

  

  A US appeals court on Wednesday granted an emergency stay order that gives Argentina more time to argue against making a 1.33 billion dollars payment to investors who rejected two debt restructurings in the nation's 2002 sovereign debt default.

• Tuesday, November 27th 2012 - 21:02 UTC

  Argentina prepared to reopen bonds’ swap under certain conditions

  

  Economy Minister Hernan Lorenzino described the appeal presented on Monday by Argentina against the ruling of New York Judge Thomas Griesa as “very forceful”, and pointed out that if the magistrate had proposed to treat hedge funds demands under the terms of the 2010 debt-swap, the Argentine congress might then address the option.

• Monday, November 26th 2012 - 07:30 UTC

  Crucial week for Argentina’s bonds’ dispute with ‘technical default’ fears looming

  

  The Argentine government will appeal on Monday the New York federal court ruling from Thomas Griesa which orders the country to pay 1.3billion dollars to the investment funds which held out from the (2005 and 2010) restructuring of the 2002 defaulted sovereign debt.

• Friday, November 23rd 2012 - 05:24 UTC

  Argentina to request on Monday a review of US Judge Griesa latest ruling

  

  Argentine Economy Minister Hernán Lorenzino assured during a press conference on Thursday that “paying off the vulture funds is illegal,” and said that the ruling by US District Judge Thomas Griesa against Argentina is “unfair”.

• Tuesday, November 20th 2012 - 00:02 UTC

  Argentina “will not enter in default” and will honour all re-scheduled bonds

  

  “The only possibility” Argentina contemplates regarding its debt is “to honour all payments” of creditors that entered debt swaps after the sovereign default of 2001, said Economy minister Hernan Lorenzino who underlined that Argentina “cannot and will not enter in default”.