BUENOS AIRES, April 15 (Reuters) – Argentina will unveil
its offer to swap up to $20 billion in defaulted debt on
Thursday, President Cristina Fernandez said, a deal that could
allow the country to tap global credit markets for the first
time in eight years.
The government will make public its offer at 2130 GMT (1830
local time), Fernandez said in a televised speech. Economy
Minister Amado Boudou told Reuters the announcement will
include “specific details” about the offer.
BUENOS AIRES, March 30 (Reuters) – Two court rulings on
Tuesday cleared the way for Argentine President Cristina
Fernandez to move ahead with her controversial plan to use
central bank reserves to make debt payments.
The decisions by an Argentine appeals court overturned
injunctions that had prevented the government from tapping
billions of dollars in foreign reserves.
CANCUN, Mexico, March 22 (Reuters) – Argentina has U.S.
regulatory approval to restructure $20 billion in defaulted
debt and expects to launch the deal within three weeks, the
government said, prompting a stock and bond rally on Monday.
The final approval from the U.S. Securities and Exchange
Commission on the swap will allow Argentina to clean up fallout
from its massive 2001/2002 default and pave the way for new
debt issues to meet soaring debt obligations this year.
CANCUN, Mexico, March 21 (Reuters) – Argentina expects to
launch within three weeks a swap to take up to $20 billion in
defaulted bonds off the market and pave the way to issue new
debt, Finance Secretary Hernan Lorenzino told Reuters on
Lorenzino said Argentina had received final approval from
the U.S. Securities and Exchange Commission on the deal, which
aims to clear up fallout from the country’s massive 2001/2002
default and also to raise funds to meet soaring debt
obligations this year.
BUENOS AIRES, March 18 (Reuters) – Argentina moved a step
closer on Thursday to a planned swap of defaulted debt and an
issue of up to $15 billion in new bonds, with an amended filing
to the U.S. Securities and Exchange Commission.
The swap is aimed at cleaning up fallout from the country’s
massive 2001/02 default and paving a return to international
bond markets to raise money to meet mounting debt obligations.
BUENOS AIRES, March 4 (Reuters) – Argentina’s president
defiantly vowed on Thursday to tap billions of dollars in
foreign currency reserves to pay debt and appealed a court
order blocking her latest attempt to use the funds.
Two days after Fernandez signed a new decree to transfer
some $4.4 billion in reserves to the Treasury, a federal judge
issued a ruling that ordered the Economy Ministry not to use
the money “in any way” until Congress reviews the decree.
BUENOS AIRES, Feb 19 (Reuters) – Argentina’s economy grew
more than expected in December but industrial output fell below
market forecasts in January amid signs an economic recovery is
underway in Latin America’s No. 3 economy.
The economy expanded by 5.0 percent in December from a year
earlier, the National Statistics Institute, or INDEC, reported,
beating market expectations of a 3.0 percent increase.
BUENOS AIRES, Jan 14 (Reuters) – Argentina vowed on
Thursday to carry out a $20 billion debt swap despite a dispute
over Central Bank reserves and U.S. legal challenges that have
rattled markets and could make the exchange more costly.
The turmoil erupted last week over President Cristina
Fernandez’s bid to use billions of dollars in foreign reserves
to pay debt this year, highlighting persistent political
instability in Latin America’s No. 3 economy.
BUENOS AIRES, Jan 11 (Reuters) – Argentine President
Cristina Fernandez defended a plan on Monday to use foreign
currency reserves to repay debt, saying it was vital to the
country’s drive to return to global credit markets.
The government plan to use billions of dollars in Central
Bank reserves to make debt payments this year has set off an
escalating political battle and shaken Argentine financial
BUENOS AIRES, Jan 7 (Reuters) – Argentine President
Cristina Fernandez on Thursday fired the country’s central bank
president, who had rejected her calls to step down for refusing
to use foreign currency reserves to pay debt.
Fernandez issued a presidential decree to remove Martin
Redrado from office, citing misconduct and dereliction of