Brazil’s PTG Pactual Bank and the China Construction Bank are at the forefront of the initiative to buy up the 1.6 billion dollars of debt which Argentina owes “holdouts” NML-Elliott and Aurelius, according to a report from Buenos Aires Ambito Financiero, the country's leading financial newspaper.
According to Argentina's leading and most influential financial newspaper, Ambito Financiero, Brazil, via the private sector could come to the rescue of Argentina in its ongoing dispute with the speculative funds in the New York court presided by Judge Thomas Griesa.
President Dilma Rousseff's main foreign affairs' advisor Marco Aurelio Garcia denied Brazil has any “imperial intentions” in reply to claims relative to Cuba from presidential opposition candidate Marina Silva.
Mercosur will present a joint proposal to the European Union for a wide ranging trade agreement between the two blocks later this month, announced Brazil' Minister of Industry Mauro Borges, following a visit to Buenos Aires where he met with Economy minister Axel Kicillof and Industry minister Debora Giorgi.
Argentina will from next week open the doors for Brazilian imports held up on the border between the two nations, including footwear and motor vehicles, according to Brazilian Minister of Development, Industry and Foreign Trade Fernando Pimentel.
Brazil trusts Paraguay will fully return to Mercosur before the end of the year, said Brazil's Executive foreign policy advisor Marco Aurelio Garcia in a Sunday edition interview with the influential Folha de Sao Paulo.
Brazilian international affairs advisor Marco Aurelio Garcia admits the incorporation of Venezuela to Mercosur was done without Paraguay’s approval and argues the downfall of Fernando Lugo was because of his political incapacity to follow on the steps of other countries with strong popular support such as Venezuela, Bolivia and Ecuador
Paraguayan president elect Horacio Cartes held a meeting on Friday at his home with former Chilean president Ricardo Lagos and the Ibero-American secretary general Enrique Iglesias to talk “about Mercosur issues and Paraguay’s suspension from the block”, according to sources close to the meeting.
Brazil and Argentina are trying to address their economic and trade differences so that they can reach a long-standing, long term solution, said Marco Aurelio García, the Brazilian Executive advisor on foreign issues and trouble shooter for this kind of conflicts.
The Union of South American Nations, Unasur leaders meet on Friday in Peru to consider advances to the integration process and a report on the political and electoral situation in Paraguay, which remains suspended from the group since last June.