BUENOS AIRES, April 7 (Reuters) – Some $100 million in
Argentine Central Bank deposits in New York can be seized to
pay two investment funds that sued Argentina over unpaid debt,
a U.S. federal judge ruled on Wednesday.
The Argentine funds held in the U.S. Federal Reserve Bank
in New York have been frozen since 2006, but another judge
delayed their attachment pending an investigation into whether
the Central Bank could be considered part of the Argentine
ROME/BUENOS AIRES, March 23 (Reuters) – Argentina said on
Tuesday that its offer to restructure up to $20 billion in
defaulted debt hinged on the sale of a new $1 billion
seven-year global bond to raise fresh cash.
Argentina’s government is trying to clean up defaulted
bonds so that it can return to international markets for the
first time since its historic default around the start of 2002
and raise money as it faces tight financing this year.
BUENOS AIRES, Feb 7 (Reuters) – Former Argentine President
Nestor Kirchner, husband of President Cristina Fernandez and a
prominent political player, underwent successful emergency
surgery on his carotid artery on Sunday, officials said.
Kirchner, 59, was sworn in as a member of Congress in the
lower house in December and is widely expected to run for
president again in 2011, even though his wife’s approval
ratings have dropped to around 20 percent.
BUENOS AIRES (Reuters) – An Argentine political conflict over using Central Bank reserves to pay debt deepened on Friday when a judge temporarily blocked President Cristina Fernandez’s plan to tap the reserves.
Judge Maria Jose Sarmiento issued an injunction, a court source told Reuters, after opposition leaders filed a legal challenge to Fernandez’s order for the Central Bank to hand $6.6 billion in foreign currency reserves to the treasury.
BUENOS AIRES (Reuters) – Argentine President Cristina Fernandez tried to force out the country’s central bank chief on Wednesday in a dispute over using billions of dollars in foreign currency reserves to pay rising debt obligations.
Martin Redrado, who refused to step down and said only Congress can remove him, has balked at handing over $6.6 billion in reserves despite a presidential order to use them to service debt at a time of a rising fiscal deficit.
BUENOS AIRES, Jan 6 (Reuters) – Argentine President
Cristina Fernandez asked Central Bank President Martin Redrado
to resign on Wednesday, but he resisted, in a political
confrontation over how to pay rising debt obligations.
Redrado has refused to quickly hand over $6.5 billion of
the country’s foreign currency reserves, three weeks after the
president ordered him to do so to use the funds to make debt
payments at a time of a rising fiscal deficit.
BUENOS AIRES (Reuters) – When a group of Argentine and Mexican veterans of girl-punk bands got together two years ago to start a new group, they decided rock-and-roll had lost any outrage for them.
“We realized it was more punk to play cumbia than to start another punk band,” said Ali “Guagua” Gardoki, Mexican front woman of Kumbia Queers, the band that emerged from the brainstorming session to challenge rock-and-roll prejudices against Latin dance music.
Honduras seems trapped in the past. Radio stations play aging hits from Mexican crooner Jose Jose and cumbia dance numbers from the mid-’80s. Women’s fashions are out-of-date and guards nestling big rifles guard beauty salons and pharmacies as they have for decades.Politics are also mired in the past in this deeply conservative country of 7 million people. While elsewhere in Latin America a new generation of leftists has taken power, putting business leaders on the defensive to some extent and to varying degrees, Honduras’ business elite flexed its muscles when a leftist prsident hinted he wanted to extend presidential term limits.For four months Honduras has been led by a de facto leader, Roberto Micheletti, who took over after the army, Supreme Court and Congress together pulled a coup on elected President Manuel Zelaya, who was flown out of the country. Zelaya later sneaked back in to take asylum in the Brazilian embassy in Tegucigalpa. Repeated attempts at a negotiated settlement between the two have dissolved into bickering.Micheletti has shown staying power — even after he was isolated on the global stage. That’s because he is backed by a secretive and relatively small group of business leaders that have long wielded political power in this Central American country, which is heavily dependent on foreign aid and on its biggest trade partner, the United States. The Honduran Documentation Center think tank has documented the control that a group of intermarried families has on the country’s banks, industries such as the maquiladora factories that make clothes to export to the U.S., coffee and banana and cattle production, and power generation. The book “The Powers that Be and the Political System,” by a group of researchers, argues that the business class has increased its influence over politics since Honduras returned to democracy 30 years after two decades of off-and-on military regimes. The book says each business group owns a media outlet that helps it maintain and transfer power from the “dinosaur” leaders to the next generations of “babysaurs.”No wonder Micheletti looks a little smug as he thumbs his nose at the international community, declaring a “unity and reconciliation” government without Zelaya’s participation after they both signed a pact to name a joint cabinet. Zelaya is backed by organizations that say they want profound social change in Honduras but apparently not badly enough to invite further repression from the military and the police and sow chaos Bolivian style with huge marches and road blocks all over the country.A pro-Zelaya television station and radio station provide blanket coverage of the so-called resistance movement — after being briefly silenced by the Micheletti government — but most TV channels assemble morning talk shows with experts and lawmakers who support Micheletti. It’s not really a surprise. Honduras has never thrown itself in with the region’s leftist movments. All three countries bordering on Honduras — Guatemala, Nicaragua and El Salvador — had major leftist insurgencies that profoundly altered the political landscapes in those countries whether or not they eventually came to power. Honduras, meanwhile, became a base for the U.S. counter-insurgency, or Contra movement, against Nicaragua’s Sandinista government.Photo captions and credits:Micheletti speaks with Craig Kelly, Principal Deputy Assistant Secretary of State for Western Hemisphere Affairs in Tegucigalpa 11/11/2009. REUTERS/Henry RomeroA supporter of Zelaya shouts at a rally outside Congress in Tegucigalpa 12/11/2009. REUTERS/Henry RomeroZelaya walks inside the Brazilian Embassy 6/11/2009. REUTERS/Edgard Garrido
TEGUCIGALPA (Reuters) – An agreement to end a four-month political crisis in Honduras collapsed on Friday after two rival leaders failed to form a government of unity to heal the damage from a June coup.
Ousted President Manuel Zelaya declared the week-old pact dead and called on Hondurans to boycott a presidential election this month because, in a surprise move, de facto leader Roberto Micheletti said he would form a new government without him.