Tag: sovereign default

• Tuesday, December 15th 2020 - 15:03 UTC

  Lack of confidence, Argentine government main challenge in its first year

  

  Argentina's current government has had a wild ride in its first year of government: a sovereign default, huge debt restructurings together with sliding reserves, a currency crisis, a weak economy battered by COVID-19, and massive money printing.

• Tuesday, March 10th 2020 - 18:01 UTC

  Argentina ready to begin restructuring of US$ 70bn in foreign law bonds

  

  Argentina will revamp as much as US$ 68.8 billion in foreign law bonds as it restructures its debt, the government said in a decree on Tuesday, paving the way for tense negotiations as the country looks to strike a deal with creditors this month.

• Saturday, August 30th 2014 - 11:06 UTC

  Capital Markets accept review of sovereign default and making terms extensive to all bondholders

  

  The International Capital Market Association (ICMA) published on Friday the revised framework that allows a majority of investors holding sovereign bonds that default to make changes to the terms, such as extending maturities or reducing the principal.

• Thursday, March 28th 2013 - 09:56 UTC

  Argentina prepared to offer suing ‘vulture funds’ a 25-year bond, says Ambito

  

  Argentina plans to offer suing “holdout” creditors a 25-year bond equal to the face value of their debt when the country defaulted in 2002, local financial daily Ambito Financiero reported on Wednesday.

• Tuesday, August 2nd 2011 - 21:37 UTC

  Wall Street fears possible downgrade of US rating in spite of vote on debt ceiling

  

  Wall Street dropped on worries about a possible downgrade of the United States' top credit rating and signs of economic weakness even as the US Congress passed on Tuesday a bill to avoid a debt default.

• Wednesday, June 29th 2011 - 16:42 UTC

  Greek parliament approves austerity measures, preventing first Euro zone default

  

  Greece's parliament approved early Wednesday deeply unpopular austerity measures despite worsening violence, in a vote vital toward securing international funds and preventing the Euro zone's first sovereign default.

• Sunday, May 22nd 2011 - 13:09 UTC

  Greece’s credit rating downgraded and risks a ‘sovereign default’

  

  Greece’s credit rating was cut on Friday three levels by Fitch Ratings, which said that even a voluntary extension of its bond maturities being studied by EU policy makers would be considered a default.