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Oct 5, 2015

Argentina makes $5.9 bln bond payment, leaves hole in foreign reserves

BUENOS AIRES, Oct 5 (Reuters) – Argentina said on Monday it
had completed a $5.9 billion payment on maturing Boden 15 bonds,
leaving a larger-than-expected hole in the South American
country’s foreign currency reserves.

Its foreign currency reserves fell 14.6 percent to $27.71
billion, almost entirely due to the debt payment. Latin
America’s No. 3 economy relies on its hard currency reserves to
finance imports and prop up its currency.

Oct 3, 2015

Argentine front-runner Scioli says holdouts not a priority

ATA, Argentina (Reuters) – Argentina’s presidential front-runner Daniel Scioli said improving an offer to creditors suing the country over defaulted bonds would not be a priority if he wins an Oct. 25 election.

Whoever succeeds outgoing President Cristina Fernandez will inherit Argentina’s long battle with “holdout” investors who rejected its debt restructuring following a 2002 default to seek full repayment in the courts instead.

Oct 2, 2015

Argentina plans new debt issue after $5.9 billion bond payment

BUENOS AIRES, Oct 2 (Reuters) – Argentina will on Monday pay
the $5.9 billion maturity due for its Boden 15 bonds in cash and
issue new debt the following day, Economy Minister Axel Kicillof
said on Friday.

The South American country, which is in default on some debt
because of a legal fight with bondholders in the United States,
targets raising $500 million in the auction of notes under
Argentine law, Kicillof told a news conference.

Sep 30, 2015

Argentina keeps options open on $5.9 billion bond payout due Oct. 5

BUENOS AIRES, Sept 30 (Reuters) – With five days to go until
payment is due on a $5.9 billion maturity of Boden 15 bonds,
Argentina is leaving bondholders guessing whether it will pay in
cash or launch a last-minute swap in order to protect its
foreign reserves.

The capital and interest payment on the dollar-denominated
bond would take a large chunk out of foreign
reserves that stand at $33.311 billion. Argentina uses those
reserves to pay debt, finance imports and prop up its currency.

Sep 28, 2015

Argentina underdog says will force way into presidential runoff vote

BUENOS AIRES, Sept 28 (Reuters) – Sergio Massa, running
third in Argentina’s presidential race, said on Monday he was
the only opposition candidate who could knock the ruling party
out of power and insisted he still had time to force his way
into a runoff vote.

Since primaries in early August, support has grown for
Massa, a dissident Peronist who defected from President Cristina
Fernandez’s Front for Victory party in 2013, recent polls show.
This has eaten away at support for opposition frontrunner
Mauricio Macri.

Aug 21, 2015

Argentine president presents law to prevent sale of state stakes in firms

BUENOS AIRES (Reuters) – Argentine President Cristina Fernandez said on Thursday she was sending a draft law to Congress making it harder for the government to sell state stakes in local firms, two months before elections seen bringing a more market-friendly leader to power.

With Fernandez barred from a third consecutive term, the two main candidates are her ruling party’s Daniel Scioli and the PRO opposition party’s Mauricio Macri. Both are expected to move away from her interventionist policies, to varying degrees.

Aug 13, 2015

Argentine welfare programs create bedrock of support for president

LA MATANZA, Argentina, Aug 13 (Reuters) – Catalina Benitez,
a single mother of four, used to cry whenever heavy rain flooded
her squalid, one-room shanty house on the outskirts of Buenos
Aires, rotting her furniture and overflowing the latrine.

Now, thanks to a government housing scheme in slums, she is
the proud owner of a two-floor brick house with running water,
electricity and a proper sewage system.

Jul 27, 2015

Bolivia is tripling the size of its subway in the sky

LA PAZ, July 27 (Reuters) – Bolivia already has the largest
urban cable car system in the world. Now the booming country is
tripling the size of the network and will soon have nine lines
whizzing above the administrative capital of La Paz.

The Andean city of 1.8 million has long struggled with
chaotic transport. Minibuses and taxis with handwritten signs in
their windscreens pick up passengers randomly along winding,
congested routes.

Jul 22, 2015

Investors see green shoots in barren Argentine real estate market

BUENOS AIRES, July 22 (Reuters) – Argentina is still
struggling with a dearth of hard currency and mortgages but with
a change of government later this year, investors at home and
abroad are positioning themselves for a real estate market
revival they say is already taking root.

Real estate sales tanked in recent years due to stagflation
and capital controls introduced by President Cristina Fernandez
in 2011.

Jul 10, 2015

Shun gangs, have hope, Pope tells inmates at violent Bolivian jail

SANTA CRUZ, Bolivia (Reuters) – Saying he too had made mistakes and sinned, Pope Francis on Friday urged inmates at one of Latin America’s most violent prisons to shun gang violence and exhorted guards to treat them with dignity.

“The man standing before you is a man who has experienced forgiveness. A man who was, and is, saved from his many sins,” the pope told hundreds of prisoners and their children on a visit to a place one long-time inmate likened to “Sodom and Gomorrah”.

    • About Sarah

      "Sarah covers economic and political news from Argentina as part of the Reuters Latin America reporting team. The focus this year is on a shift in policy ahead of key elections in late 2015 and signs of a slowdown in an economy marked by one of the world’s highest inflation rates. Sarah moved to Buenos Aires in 2014 from Berlin, where she reported on Europe’s largest economy for five years during the euro zone debt crisis. She joined Reuters as a graduate trainee in the London HQ in 2007 and has also done assignments in Frankfurt and Vienna. ..."
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