BUENOS AIRES, Oct 8 (Reuters) – Argentina’s state-run energy
company YPF said on Wednesday it had not struck a confidential
natural gas production deal with Russia’s Gazprom
despite a statement earlier in the day from the industry
ministry saying that it had.
The ministry had said Cabinet Minister Debora Giorgi
received assurances from Gazprom head Alexey Miller in a meeting
this week that a “confidential” $1 billion agreement had been
reached with YPF SA to explore for and produce gas in
BUENOS AIRES, Oct 3 (Reuters) – Argentina has defaulted on
its debt, the economy is stagnant, inflation is soaring and its
market-friendly central bank chief has just been forced out. But
its stock market is up over 100 percent this year, making it one
of the world’s top performers.
Investors are not buying up shares because they trust the
country’s economy or government policies but instead as a way of
getting scarce dollars to hedge against the tumbling peso
BUENOS AIRES, Oct 2 (Reuters) – Career civil servant
Alejandro Vanoli’s banking CV is thin and his staunch defense of
reforms to ramp up state controls in the Argentine economy
suggest he will be an unquestioning government ally in his new
job as central bank chief.
The former markets watchdog chief, 53, brands himself as a
“people’s economist” though he is far from a household name in
Argentina and barely known in financial circles outside.
NEW YORK/BUENOS AIRES (Reuters) – Argentina said on Monday that any sanctions for contempt of court, levelled against it for refusing to pay U.S. hedge funds suing over defaulted debt, would be illegal under international law.
The hedge funds have asked a U.S. judge to order the country to pay $50,000 a day after the government enacted a new law to skirt a court ruling saying it must pay more than $1.3 billion in interest to U.S. investment funds known as “holdouts” after they rejected Argentina’s 2005 and 2010 bond restructurings.
BUENOS AIRES, Sept 24 (Reuters) – Argentine President
Cristina Fernandez accused hedge funds suing the country for
full repayment of defaulted debt of practicing “economic and
financial terrorism”, heightening the rhetoric in the country’s
years-long legal battle with the investors.
Speaking before the United Nations General Assembly on
Wednesday, Fernandez said “terrorists are not only those who set
off bombs, but also those who destabilize economies, causing
hunger, misery and poverty.”
BUENOS AIRES (Reuters) – Germany has a “hostile attitude” toward Argentina’s debt restructuring effort, cabinet chief Jorge Capitanich said on Wednesday after local newspapers ran an advertisement quoting a German official criticizing Argentine policymaking.
The advertisement, posted by a U.S. lobbying group on behalf of hedge funds suing Argentina for full repayment on defaulted bonds, quotes German Finance Minister Wolfgang Schauble calling Argentine policymaking “an example of lack of strength.”
BUENOS AIRES (Reuters) – President Cristina Fernandez’s campaign to bolster the state’s role in Argentina’s economy took a big step forward on Thursday when Congress approved a bill allowing the government to intervene in the pricing and output levels of large companies.
The House of Deputies voted 130-105 early on Thursday for the so-called supply law. It enables the government to set profit margins and confiscate merchandise from private companies judged to have hiked prices unjustifiably.
BUENOS AIRES, Sept 16 (Reuters) – Argentina called in the
United States’ top diplomat in the country on Tuesday to express
its “deep indignation” over a local newspaper interview in which
he made reference the South American country’s latest debt
Argentina missed a coupon payment on its restructured
sovereign bonds in July after a U.S. judge ordered that $539
million deposited by Buenos Aires with an intermediary bank and
intended for bondholders not be paid out.
BUENOS AIRES (Reuters) – Argentina’s Congress on Thursday overwhelmingly passed a debt bill aimed at defying a U.S. court ruling which tipped the country into default for the second time in 12 years.
After an overnight debate, the lower house of the legislature passed the bill which authorizes the government to circumvent the U.S. court and ensure bondholders receive upcoming interest payments on an estimated $29 billion in bonds, on which the country defaulted in July.
BUENOS AIRES (Reuters) – Argentina is right to fight the U.S. court ruling that pushed it into default in July, Nobel prize-winning economist Joseph Stiglitz said on Tuesday as the country asked the United Nations to oversee sovereign debt restructurings.
Its economy shrinking and currency hitting record lows, Argentina is in a punishing legal feud with hedge funds that rejected the country’s 2005 and 2010 debt restructurings. But the case has implications far beyond the South American country.