Wednesday
September 17, 2014
Results for: debt
  • 16/09/2014 | Argentina

    Gov’t slams US Sullivan's 'unfortunate, incorrect' comments

    Cabinet chief Jorge Capitanich said that US interim ambassador in Buenos Aires Kevin Sullivan has been summoned by Foreign Minister Héctor Timerman following his remarks about the country needing “to exit default as soon as possible” in an interview published on Monday .

  • 11/09/2014 | Argentina

    'We have put future credibility at stake'

    Among opposition voices condemning the approval of a new payment plan challenging vulture funds suing the country over its defaulted bonds, was PRO party lawmaker Federico Sturzenegger who considered Argentina’s “credibility” has been put at risk.

  • 14/09/2014 | Argentina

    Baltasar Garzón says UN sovereign debt resolution 'essential'

    Former Spanish Judge and Human Rights activist Baltasar Garzón celebrated the Sovereign Payment law approved by Argentina’s Congress last week and described the UN’s resolution for the creation of a multilateral legal framework for sovereign debt restructuring process as "essential.”

  • 15/09/2014 | Argentina

    'US does not support the debt debate at the UN'

    As President Cristina Kirchner’s gets ready for her annual trip to New York to speak at the United Nations General Assembly, US interim ambassador in Buenos Aires Kevin Sullivan ratified that Washington will not back the UN sovereign debt resolution sparked by Argentina’s legal battle with its holdout creditors.

  • 10/09/2014 | Argentina

    Lower House debates new bond swap bill

    Lawmakers in the Lower House of Congress began to discuss the Executive’s Sovereign Payment bill a few minutes after noon today. The project has already been approved by the Senate and is expected to be passed between 4 and 6am tomorrow.

  • 11/09/2014 | Argentina

    Lower House okays debt bill, project signed into law

    Lawmakers in the Lower House of Congress passed the Executive’s Sovereign Payment bill today, after almost 16 hours of debate, by 134 votes in favour, 99 against and 5 abstentions.

  • 11/09/2014 | Argentina

    'Those who voted against favour vulture funds'

    Cabinet chief Jorge Capitanich celebrated that the government’s new debt swap plan became a law and bashed opposition lawmakers who voted against the Executive’s bill saying they “respond to a strategy designed by vulture funds.’

  • 09/09/2014 | Argentina

    Lower House committee clears debt restructuring bill for debate

    Lower House committees have approved the Sovereign Payment bill for debate tomorrow, after hearing government official’s defense of the project that seeks to open a new debt swap with local “Nación Fideicomisos” as trustee.

  • 09/09/2014 | Argentina

    Cristina calls opposition to vote 'responsibly' on Sovereign Payment bill

    President Cristina Fernández de Kirchner has praised the United Nations (UN) approval of a project that proposes legal framework to regulate restructuring of foreign sovereign debt, saying “Argentina has set international legislation” with the initiative.

  • 10/09/2014 | Argentina

    Capitanich calls lawmakers to 'vote for the country' on debt swap bill

    As the Lower House is set to pass the new debt swap bill, cabinet chief Jorge Capitanich highlighted the broad support Argentina received at the United Nation’s General Assembly for a legal framework for sovereign debt restructuring processes, and urged opposition lawmakers to show the same support for the government.

  • 31/08/2014 | Argentina

    Germany's Finance Minister: 'Argentina an example of lack of solidity'

    Germany’s Finance Minister Wolfgang Schäuble slammed Argentina’s stance against its holdout creditors saying it has been -and continues to be- “an example of lack of solidity.”

  • 02/09/2014 | Argentina

    Gov't to add France as payment location in external debt bill

    The proposed bill to change the location of Argentine external debt payments will undergo a last-minute alteration, as government officials plan to add France as an alternative site for bond jurisdictions along with Buenos Aires.

  • 03/09/2014 | Argentina

    'Vulture funds row will not affect Chinese investments in Argentina'

    The current legal dispute between Argentina and so called “vulture funds” suing the country over its defaulted bonds “will not affect” planned Chinese investments here, the head of the National Commission of Development and Reform (CNDR) of China has warned.

  • 27/08/2014 | Argentina

    Senate committees approve debt swap bill

    The proposed law to declare as of public interest the 2005 and 2010 debt restructurings and sovereign payments has obtained approval from a plenary of Senate committees, and will be debated before the Upper House on September 3.

  • 29/08/2014 | Argentina

    After Argentina row with vultures, ICMA revises rules for sovereign defaults

    Banks, investors and other users of bond markets have agreed to change how they would deal with defaulting debt, removing holdouts' veto right to avoid a repetition of the fracas over Argentina.

  • 31/08/2014 | Argentina

    'Social development cannot be jeopardised by the extorsion of tiny group of financiers'

    Foreign Minister Héctor Timerman referred to Argentina’s plan to regulate international debt restructurings, to be presented on Tuesday before the UN's General Assembly, and stressed the importance of the project saying that “the legal loophole is huge” and that it affects “most of the countries in the world.”

  • 25/08/2014 | Argentina

    Gov't defends new debt swap plan: 'BoNY has breached contract'

    Cabinet Chief Jorge Capitanich defended the Executive’s plan to replace the bank of New York Mellon (BoNY) as trustee of Argentina’s restructured bonds saying it has “breached the trust agreement.”

  • 26/08/2014 | Argentina

    Gov’t officials to brief lawmakers on swap bill

    Cabinet Chief Jorge Capitanich defended once again the Executive’s bill to be discussed in Congress this week that seeks to open a new debt swap with local Nación Fideicomisos as trustee, and announced that Economy Minister Axel Kicillof, Treasury Attorney Angelina Abbona and Legal and Technical Secretary Carlos Zanini will brief lawmakers tomorrow on the details of the “Sovereign Payment” bill.

  • 27/08/2014 | Argentina

    Kicillof urges Congress not to become 'judge Griesa’s clerk office'

    Economy Minister Axel Kicillof spoke before the Budget and Foreign Affairs Committees of the Senate as a new round of talks began over a bill that if approved would allow for the voluntary payment of the country’s creditors in Buenos Aires.

  • 21/08/2014 | Argentina

    Sanz: Radical MPs expected to reject debt bill

    The Cristina Fernández de Kirchner administration should not rely on Radical MPs’ support to the government-sponsored bill seeking to reopen Argentina’s debt swap, head of the party Ernesto Sanz said as he called for “responsibility, seriousness and rectitude” in the debate.

  • 22/08/2014 | Argentina

    Gov't calls Congress to condemn Griesa's 'imperialist' statements

    Unfortunate, incorrect and imperialist was how Cabinet Chief Jorge Capitanich described statements by US District Court Thomas Griesa who had questioned Argentina’s debt swap project that involves paying bondholders through the country’s Central Bank.

  • 24/08/2014 | Argentina

    Fintech Advisory fund welcomes new debt swap under Argentine law

    Fintech Advisory hedge fund head David Martínez Guzmán has said the fund is willing to accept the new debt swap proposed by the Argentine government in order to “isolate (US) judge Thomas Griesa and vulture funds, and resume the chain of payment arbitrarily interrupted.”

  • 21/08/2014 | Argentina

    Gov't calls holdouts to accept new swap for 'certain' payment chances

    Cabinet Chief Jorge Capitanich reiterated that the bill pushed by the Executive “is not about a change of jurisdiction but of venue” and pledged that bondholders who voluntary accept the new swap will have “clear, certain” chances to receive payment.

  • 21/08/2014 | Argentina

    'Macri more in tune with vultures, Griesa than with Argentina’s interests'

    The cabinet chief bashed Buenos Aires City Mayor Mauricio Macri for his remarks against the national government’s plan to reopen the debt swap, replacing the Bank of New York Mellon with local Banco Nación as trustee.

  • 21/08/2014 | Argentina

    US judge Griesa declares jurisdiction change illegal

    US District Judge Thomas Griesa declared that an Argentine plan to change the jurisdiction of restructured foreign debt was illegal, while resisting holdout investors' demands that Argentina be held in contempt of court for attempting to change the site of payment to Buenos Aires.

  • 19/08/2014 | Argentina

    Gov’t says the US has not confirmed whether it accepts ICJ's jurisdiction

    Cabinet Chief Jorge Capitanich, Foreign Minister Héctor Timerman and Ministry of Foreign Affairs Legal Adviser Susana Ruiz Cerrutti were addressing reporters this morning to discuss Argentina’s legal action against the US at the Hague over its dispute with holdout hedge funds.

  • 20/08/2014 | Argentina

    Gov't says 'contempt ruling' inapplicable to Argentina

    Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following President Kirchner’s decision to push a bill to change the payment jurisdiction to Buenos Aires, the cabinet chief pointed out that as a “sovereign country” Argentina cannot end up in contempt.

  • 20/08/2014 | Argentina

    'We should be asking Griesa for BoNY deposits'

    Cabinet Chief Jorge Capitanich stressed that by changing the debt’s jurisdiction to Buenos Aires the government seeks to protect restructured bondholders and pointed out that the fate of the u$s 539 millions deposited to restructured creditors in a Bank of New York (BoNY) account is to be determined by US District Judge Thomas Griesa, who has frozen the assets.

  • 08/08/2014 | Argentina

    Bond dispute: Hearing called by US judge Griesa begins

    New York District judge Thomas Griesa has scheduled a hearing at 4 pm local time today to address Argentina's recent public statements over their attempts to pay creditors, a court official said.

  • 13/08/2014 | Argentina

    Gov’t says ‘acceleration’ on restructured bonds not possible

    Cabinet Chief Jorge Capitanich rejected the possibility raised last week by Argentina’s holdout investors to declare principal and interest immediately due, a move known as acceleration, saying the conditions for it have not been met.

  • 14/08/2014 | Argentina

    Gov’t says Aurelius makes 'irrational threats', vulture funds are 'int'l mobsters'

    In response to Aurelius Capital Management claims that “the worst is yet to come” for Argentina, Cabinet Chief Jorge Capitanich said that those threats are “emtpy and irrational” and described the holdouts as “voracious groups that make up an international mob”.

  • 07/08/2014 | Argentina

    ‘The debt has to be paid but not at the expense of the people’

    Supreme Court Chief Justice Ricardo Lorenzetti commented for the first time on the government’s battle against vulture funds. “The debt has to be paid,” but “with humans rights as limits,” he warned.

  • 04/08/2014 | Argentina

    Paris Club confirms first receipt of Argentina arrears

    The Paris Club of major creditor nations said today it had received a first payment of Argentina's debt arrears as promised under an agreement struck in May.

  • 04/08/2014 | Argentina

    Ex Finance Secretary says govt's vulture fund strategy will isolate the country

    Former Finance Secretary Guillermo Nielsen today referred to the government's strategy towards vulture funds and said "the strategy of blasting the judge and the mediator has not been thought enough and will isolate the country."

  • 07/08/2014 | Argentina

    Gov’t fires back at Griesa, reiterates BoNY has to pay bondholders

    Cabinet Chief Jorge Capitanich said US Judge Thomas Griesa has proved his “incompetence, constant bias” by ratifying his order to keep a hold on funds Argentina deposited for exchange bondholders in the Bank of New York Mellon.

  • 31/07/2014 | Argentina

    ISDA to consider in Friday meeting if 'failure to pay' credit event had occurred

    The International Swaps and Derivatives Association (ISDA) said today it had received its first request to consider whether a credit event had occurred, according to the ISDA website.

  • 31/07/2014 | Argentina

    Kicillof: 'If banks want to pay with their own money, the government won't resist it'

    Economy Minister Axel Kicillof today insisted Argentina will not pay “vulture funds” or “anyone who buys their bonds” a higher amount than the negotiated in the 2005 and 2010 debt swaps, saying the latter would also trigger the RUFO clause.

  • 01/08/2014 | Argentina

    US judge Griesa urges Argentina, vulture funds to resume negotiations; rejects replacing Special Master Pollack

    US District Judge Thomas Griesa, in a stern tone, today criticized Argentina's decision to default on $29 billion in debt earlier in the week rather than pay holdout investors as ordered.

  • 30/07/2014 | Argentina

    BA stock market jumps 6.9%

    The Buenos Aires City stock market jumped today, reflecting investor’s optimism as last-minute negotiations between Argentina and its holdout creditors continued in New York. The Merval index climbed by 6.9% to 8,937.62 points.

  • 31/07/2014 | Argentina

    US judge Thomas Griesa schedules new hearing for tomorrow

    The US judge overseeing Argentina's dispute with a group of creditors said a hearing he has set for Friday morning in the case will be "regarding the recent default by the Republic of Argentina," according to a court filing.

  • 31/07/2014 | Argentina

    Aurelius says no private sector approach worthy

    Aurelius Capital Management has shot down speculation that the hedge fund was fielding a viable private-sector proposal for selling its untendered Argentine sovereign debt in a bid to shorten the amount of time Argentina is in default.

  • 28/07/2014 | Argentina

    Capitanich postpones Senate briefing ahead of debt deadline

    Cabinet Chief Jorge Capitanich has postponed until August 6 a Senate briefing scheduled for Wednesday, the day in which Argentina must pay debt obligations with investors currently blocked from receiving funds by New York judge Thomas Griesa.

  • 28/07/2014 | Argentina

    First payment made to Paris Club creditors

    The Economy Ministry today revealed that Argentina had completed a payment of 642 million dollars to the group of creditor nations that form the Paris Club, a sum representing the first installment due on the debt owed by the country.

  • 29/07/2014 | Argentina

    Argentina continues last-minute debt talks with US mediator Pollack in New York

    Today's meeting between an Argentine delegation and mediator Daniel Pollack in New York continue, with Economy minister Axel Kicillof flying in at the last minute to witness talks while the parties attempt to avoid possible default as a result of the ongoing dispute with holdout investors ahead of tomorrow's deadline.

  • 25/07/2014 | Argentina

    No resolution in NY meeting, Argentine delegation returns to Buenos Aires

    In a brief, closed-door meeting, US mediator Daniel Pollack met with representatives of Argentina. "The dialogue process opened with the mediator will continue within the next days," a statement released by the Economy Ministry confirmed.

  • 27/07/2014 | Argentina

    No meeting with Pollack scheduled for today

    Argentina does not have a meeting scheduled for today with court-appointed mediator Daniel Pollack in New York in its debt legal dispute with holdout creditors but talks continue, a government source said, as the country looks to avoid a possible debt default.

  • 28/07/2014 | Argentina

    Capitanich says economic activity independent of vulture fund battle

    Cabinet Chief Jorge Capitanich said “the economic activity is independent” of the outcome of the country’s legal battle against the vulture funds, asked about the impact in the country's economy in case an agreement is not reached with holdout creditors by Wednesday.

  • 17/07/2014 | Argentina

    'It is vulture funds that act in bad faith’

    The Cabinet Chief Jorge Capitanich reiterated that Argentina has not defaulted and rejected the possibility of a future default. He stressed that the government honours its commitments in good faith, unlike the so-called vulture funds, whom he accused of going after the resource-rich Vaca Muerta region.

  • 23/07/2014 | Argentina

    CFK defiant over vulture fund dispute

    President Cristina Fernández de Kirchner has reiterated the Argentine position of demanding fair and equal conditions in order to speak with holdout investors involved in the legal dispute with the country, and criticised judge Thomas Griesa for failing to address concerns in the conflict over unpaid sovereign debt.

  • 24/07/2014 | Argentina

    Vulture funds claim Argentina wants default

    The NML Elliot fund owned by billionaire Paul Singer said today the Argentine government “made it clear it wants to default” after the meeting with appointed mediator Special Master Daniel Pollack over the Argentine defaulted debt case.

  • 11/07/2014 | Argentina

    Holdout creditor says Argentina not negotiating

    The Elliott Management Corp representative emerged from five hours of meetings with a court-appointed mediator today saying the government still refuses to have a negotiation 12 years after its historic default.

  • 15/07/2014 | Argentina

    Gov’t to extend provinces’ debt agreement

    The federal government agreed to an extension of the agreement over provincial debts maturity, the Cabinet Chief Jorge Capitanich said.

  • 16/07/2014 | Argentina

    CFK rejects default; insists on message to holdouts: 'If you accept debt restructuring you could gain 300% in dollars'

    President Cristina Fernández de Kirchner rejected today the possibility of a new default during the UNASUR-BRICS meeting in Brasilia, highlighting Argentina is going to “keep on paying and honoring its debt,” while asking for support against the “so called vulture funds,” who are “pretending to collapse the Argentine debt restructuring.”

  • 10/07/2014 | Argentina

    Gov’t: ‘There is no possibility of default’

    Amid an escalating rethoric war between the government and holdout hedge funds in local and international newspapers, Cabinet Chief Jorge Capitanich bluntly rejected the latest ad published by the American Task Force Argentina (ATFA) and reiterated the country's ability and willingness to pay.

  • 11/07/2014 | Argentina

    No resolution reached between Argentine officials, debt holdouts

    Argentine officials and holdout investors met separately with the court-appointed mediator for five hours today, presenting their cases in hopes of resolving a default dispute that has dragged on for over 12 years.

  • 11/07/2014 | Argentina

    PM Renzi highlights ties between Italy and Argentina amid holdouts dispute

    In a letter addressed to President Cristina Fernández de Kirchner and sent today, Italian Prime Minister Matteo Renzi expressed his support to Argentina in the dispute with holdouts.

  • 02/07/2014 | Argentina

    Buenos Aires, Neuquén confirm payment to bondholders in NY

    Argentine provinces of Buenos Aires and Neuquen confirmed they will meet their foreign debt’s deadlines at the end of the month despite the government’s risk of default after US Judge Griesa blocked the funds deposited for restructured bondholders.

  • 04/07/2014 | Argentina

    Capitanich: 'US judiciary is not independent from vulture funds'

    Cabinet Chief Jorge Capitanich came on stage today to say that “considering a technical default is a manoeuvre from the New York judge but not from the Argentine Republic.”

  • 07/07/2014 | Argentina

    Kicillof requests 'stay' reinstatement during Pollack meeting

    Economy Minister Axel Kicillof today held a meeting that lasted almost four hours with the Special Master appointed by US Judge Thomas Griesa, Daniel Pollack, and requested that an injunction allowing Argentina to pay bondholders be reinstated while negotiations with holdouts developed.

  • 29/06/2014 | Argentina

    De la Rúa: ‘The mega-swap was not bad for the country’

    Amid the government’s complex negotiations with the holdout hedge funds, former President Fernando De la Rúa said the “mega-swap” (megacanje) –an operation made in 2001 to delay the deadline of different debts for which De la Rúa was later indicted for fraud- “was not bad for the country”.

  • 30/06/2014 | Argentina

    Nobel laureate Pérez Esquivel urges Griesa to 'reflect on the debt'

    Argentine Nobel Peace Prize Laureate Adolfo Pérez Esquivel said he has sent a letter to US Judge Thomas Griesa who ruled against Argentina in its case against “holdout” creditors, urging him to “reflect on the debt”.

  • 30/06/2014 | Argentina

    OAS calls for 'urgent' meeting to discuss Argentina's legal battle against vulture funds

    The Organization of American States (OAS) called member countries for an “urgent” meeting of consultation for Thursday to discuss Argentina’s sovereign debt restructuring. Secretary General José Miguel Insulza expressed his solidarity with Buenos Aires over its vulture funds dispute.

  • 27/06/2014 | Argentina

    'Argentina needs less rhetoric, more professionalism' to settle debt dispute

    The head of the Frente Renovador opposition coalition Sergio Massa said Argentina “needs less rhetoric and more professionalism” in its dispute with bondholders that refused to enter the 2005 and 2010 debt swaps. Still, the MP warned a default would be “madness.”

  • 27/06/2014 | Argentina

    US Judge Griesa says bank should return Argentine bond payment; urges to go back to negotiating table

    US Judge Thomas Griesa today called Argentina's decision to make a sovereign debt payment in defiance of a court order an "explosive action" and told Bank of New York Mellon to return the money to the government. In a hearing today held in New York, Griesa told lawyers representing Argentina and BNY Mellon that any attempt to make payment to bondholders without complying with his court is illegal.

  • 29/06/2014 | Argentina

    OAS Council meets over Argentina’s hedge funds dispute

    The OAS Council called for a special meeting today to consider an Argentinean request to convene a meeting of consultation of ministers of foreign affairs for Thursday to discuss the country’s sovereign debt restructuring and its consequences.

  • 25/06/2014 | Argentina

    Kicillof addresses UN: 'Argentina wants to pay, but they won't let us'

    Argentina's Economy Minister Axel Kicillof was adressing the United Nations today over the nation's "vulture funds" dispute. "We want to pay but they won't let us," he said in reference to US courts' rulings.

  • 26/06/2014 | Argentina

    'Argentina pays,' President CFK tweets

    Following the announcement made earlier by Economy Minister Axel Kicillof who informed the government had paid more than a billion dollars to exchange bondholders today, Preisdent Cristina Fernandez de Kirchner used her Twitter account to say "Argentina pays."

  • 23/06/2014 | Argentina

    Gov’t asks Griesa for a stay on debt ruling

    Economy Minister Axel Kicillof briefed the press on the content of Argentina’s formal presentation to Judge Griesa today. “We are asking judge Griesa for a suspension of his ruling in order to start a dialogue in fair, equitable and legal conditions, without breaking our commitments with bondholders who joined the debt restructuring,” the Minister said.

  • 24/06/2014 | Argentina

    UNASUR expresses solidarity with Argentina over debt dispute

    The Union of Southern Nations (UNASUR) expressed its solidarity with Argentina after US Supreme Court decision to dismiss the country’s appeal in its legal dispute with holdout hedge funds, rejecting “the behaviour of speculative agents that endager the agreements reached between debtors and creditors”.

  • 25/06/2014 | Argentina

    Kicillof to 'raise awareness' on anti-debt restructuring rulings at United Nations

    Cabinet Chief Jorge Capitanich referred to the economy minister's presentation at the G77 and China meeting in New York today, saying Argentina will seek to “raise awareness” about the impact of legal decisions in debt restructuring processes.

  • 19/06/2014 | Argentina

    Gov't says no US mission scheduled to negotiate with vulture funds

    Following Argentina’s offer to negotiate with bondholders, the cabinet chief affirmed the ruling ordering to pay vulture funds “strikes” the country’s debt restructuring process. Ratifying Argentina’s “payment will,”  Jorge Capitanich said the government had no mission scheduled to the United States.

  • 19/06/2014 | Argentina

    Italian bondholders 'willing to collect anywhere'

    Lawyer Tullio Zembo said Italians holding Argentina’s restructured debt bonds “are willing to collect anywhere” although he considered the current legal situation that has raised default fears in the South American country “extremely difficult.”

  • 18/06/2014 | Argentina

    Judge Griesa considers CFK's speech a 'problem'

    US Judge Tomas Griesa today considered "a problem" the televised speech delivered by President Cristina Fernández de Kirchner on Monday after the US Supreme Court declined to hear an appeal by Argentina in its battle against the holdouts.

  • 29/05/2014 | Argentina

    CFK: We reached an agreement without IMF intervention

    President Cristina Fernández de Kirchner expressed her delight at reaching an agreement with the Paris Club without International Monetary Fund (IMF) intervention, while defending Argentina's record in honouring debt commitments.

  • 09/06/2014 | Argentina

    NY Post: Judge Griesa refuses hedge fund request to rebuke Argentina on debt plan

    New York Judge Thomas Griesa rejected last week a request by hedge fund investor Paul Singer to chide Argentina over its apparent “best option” plan to default on all its debt should it lose its last-chance appeal later this week.

  • 16/06/2014 | Argentina

    US Supreme Court rejects Argentina appeal in bond fight

    The US Supreme Court today declined to hear Argentina's appeal over its bid to avoid paying $1.33 billion to hedge fund creditors or risk a potential default. The high court left intact lower court rulings that ordered Argentina to pay. The government had previously warned it could default on its sovereign debt if required to pay in full.

  • 28/05/2014 | Argentina

    Kicillof kicks off Paris Club negotiations

    Economy Minister Axel Kicillof today met with members of the Paris Club group of creditors in a marathon summit, in which the restructuring of Argentine debt was discussed.

  • 29/05/2014 | Argentina

    Gov't clinches debt repayment deal with Paris Club

    Argentina reached an agreement with creditor nations on repaying overdue debts, in a landmark deal that should open up much-needed international financing for the country. The Paris Club of creditors said the agreement will allow Argentina to clear over five years arrears that stood at $9.7 billion at the end of April.

  • 29/05/2014 | Argentina

    Paris club deal means 'foreign investment, trade, jobs'

    In a big day for Kirchnerites celebrating the deal signed with the Paris Club, the cabinet chief assured the debt restructuring accord has been set “responsibly.” “Argentina comits if but only if the development of its payment capacity allows so,” Jorge Capitanich said.

  • 21/04/2014 | Argentina

    US Supreme Court: Argentina's non-US assets should be off-limits to creditors

    US Supreme Court justices today indicated that creditors should be able to seek limited information about Argentina's non-US assets in a case stemming from long-running litigation over Argentina's obligations to bond investors.

  • 28/04/2014 | Argentina

    Capitanich highlights provinces' debt reduction, auto negotiations with Brazil

    Cabinet Chief Jorge Capitanich today highlighted the “drastic” reduction of the debt the provinces hold with the national administration as the government is expected to sign today a debt restructuring adjustment deal with 17 provinces.

  • 26/05/2014 | Argentina

    Kicillof: Paris Club talks have moved forward

    The economy minister has assured that progress has been made with creditors in the Paris Club as the politician flies to France in preparation for talks with the financial institution over restructuring Argentina's debt.

  • 20/03/2014 | Argentina

    Argentina's Paris Club offer 'very interesting'

    Cabinet Chief Jorge Capitanich has praised France’s support to Argentina in both its debt disputes with US-based vulture funds suing the South American country over its defaulted bonds more than a decade ago and the Paris Club creditor nations group.

  • 31/03/2014 | Argentina

    ‘No foreign currency debt issuance has been planned in the short term’

    Cabinet Chief Jorge Capitanich today reiterated a government’s communiqué released yesterday saying "any foreign currency debt issuance has been planned in the short term," denying a newspaper’s report which indicated the country was closing in on a deal to receive around US$1 billion in loans from Goldman Sachs investment bank.

  • 09/04/2014 | Argentina

    'IMF recommendations led to Argentina's worst crisis'

    The “ideological bias” of IMF analysts has never changed with the recommendations by the international credit organism prompting the "worst" social and productive crisis in the history of the Republic of Argentina, the cabinet chief has said responding to an IMF report that questions the South American country’s economic prospects for 2014.

  • 17/03/2014 | Argentina

    Due to fall in reserves, Moody's lowers Argentina debt rating

    International credit rating agency Moody's has reduced the rating of Argentina's sovereign debt, moving the grade down one step from B3 to Caa1 due to the fall in the nation's international reserves and its "inconsistent" economic policy.

  • 19/03/2014 | Argentina

    Argentina secures France support in Paris Club negotiations

    In Paris, where she met with her French counterpart Francois Hollande, President Kirchner praised the decision by the European nation to file and amicus curiae brief before of the US Supreme Court, in a show of support to Argentina in its long-standing dispute against "vulture funds." CFK also secured the support of the French government to settle a 9 billion dollars dispute with the Paris Club.

  • 19/03/2014 | Argentina

    Moody's lowers ratings for Argentine provinces

    International credit rating organisation Moody's has lowered the grade of the debt held by the majority of Argentine provinces and municipalities, also changing the projection for lending from stable to negative.

  • 17/01/2014 | Argentina

    Kicillof to meet with Paris Club to settle debt

    Economy Minister Axel Kicillof will travel to France next Sunday to try and reach an agreement with Paris Club over Argentina’s debt, an official press release confirmed. Argentina has a 6.700 million dollar debt with the Paris Club of investors since 2001’s default.

  • 05/02/2014 | Argentina

    Paris Club says 'open' to debt talks with Argentina

    The Paris Club is open to talks with Argentina on repaying its debt, the group of creditor nations said today, moving closer towards launching formal negotiations with Buenos Aires.

  • 17/03/2014 | Argentina

    Government confirms debt talks with Paris Club to begin May 26

    "Argentina has received a formal invitation for the beginning of talks and that invitation has a date which is May 26,” Capitanich told reporters this morning.

  • 03/12/2013 | Argentina

    US praises Argentine agreements with Repsol and ICSID

    By Pablo Jiménez
    A UIA meeting in Cardales was the stage for the first meeting between the Cabinet Chief and the United States' most senior representative in Argentina. Kevin Sullivan, who is in charge of the US embassy on an interim basis, met with Jorge Capitanich backstage at the industrial organisation's annual event.

  • 23/12/2013 | Argentina

    Gov't to sign debt refinancing deal with 18 provinces

    Cabinet Chief Jorge Capitanich today confirmed the government will sign with 18 provinces an agreement to refinance debt which will be in effect for three renewable months.

  • 27/12/2013 | Argentina

    Gov't signs debt restructuring deal with 18 provinces

    National government officials today met with provincial governors to sign a deal whoch will refinance the debts of 18 provinces every three months.

  • 07/10/2013 | Argentina

    Top US court won't hear Argentina bond dispute appeal

    The US Supreme Court declined to hear a preliminary appeal filed by Argentina against hedge funds that refused to take part in two debt restructurings that sprang from the country's 2002 default.

  • 31/10/2013 | Argentina

    Elliot Management hope for 'consensual resolution' with Argentina

    In a letter to investors dated October 28, Elliott Management said it remained hopeful that a "consensual resolution" can be achieved with Argentina regarding the hedge funds dispute.

  • 02/12/2013 | Argentina

    Capitanich reacts to US comments on Central Bank reserves, confirms subsidy cuts

    In his daily press briefing at the Government House Cabinet Chief Jorge Capitanich today reacted to the White House comments on the Argentine Central Bank reserves, saying “I am worried about the US and UK debt level.” The US public debt reaches over 100 percent of its GDP, he warned.

  • 25/07/2013 | Argentina

    IMF explains itself on Argentine debt case

    The International Monetary Fund today tried to justify why it reversed course on filing a brief at the US Supreme Court on the Argentine debt case, saying that the institution’s political neutrality was at stake.

  • 23/08/2013 | Argentina

    Bondholder fight: Argentina loses US appeal; SC appeal resolution pending

    Argentina today lost its appeal of a US judge's order requiring that it pay $1.33 billion to bondholders that did not participate in two restructurings following the country's historic $100 billion default more than a decade ago. The 2nd Circuit said enforcement of the injunctions would be stayed, pending resolution of an appeal of an earlier decision last year to the US Supreme Court, and avoiding a technical default by Argentina.

  • 30/09/2013 | Argentina

    US Supreme Court analyses whether to take 'vulture fund' case

    The US Supreme Court  analysed the list of cases that could be discussed from the start of the new session beginning October 7, among which is a high-profile appeal by Argentina over its battle with hedge funds that refused to take part in two debt restructurings that sprang from the country's 2002 default.

  • 29/12/2012 | Argentina

    Argentina asks US court to block holdout debt payouts

    Argentina called for the New York Appeals Court to dismiss rulings that would force the country to pay vulture funds, and the request was immediately backed by US. Argentina also confirmed that it plans to reopen the debt swap in the same terms set in 2010.

  • 25/06/2013 | Argentina

    Argentina asks US Supreme Court to hear debt appeal

    Argentina has taken its legal battle with "holdout" creditors to the US Supreme Court, asking that body to overturn a lower court ruling in a case whose outcome could push the country into default.

  • 19/07/2013 | Argentina

    US will not file with Supreme Court in Argentina debt case

    The US will not file a brief asking the Supreme Court to review Argentina's case in a decades-old battle between the South American country and "holdout" creditors, a Justice Department spokesman said.

  • 20/11/2012 | Argentina

    ‘Vulture funds seek to mount a default stage,’ Lorenzino

    Economy Minister Hernán Lorenzino said today that claims set by international "vulture" funds against Argentina have the only intention of mounting fear and raise doubts about the country’s ability to repay debt."

  • 13/12/2012 | Argentina

    'We don't need int'l lenders,' Lorenzino announces bond payment

    Economy Minister Hernán Lorenzino announced Argentina will be making payments for more than $3.5 billion dollars in GDP-linked bonds, during a press conference at the Economy Ministry.

  • 15/12/2012 | Argentina

    UN court orders Libertad frigate release, to arrive in Argentina on Jan 9

    UN’s International Tribunal for the Law of the Sea ordered the release of the Libertad naval training ship which was detained in Ghana at the request of holders of defaulted Argentine state bonds. Later, Defence Minister Arturo Puricelli stated that the frigate will arrive in Argentina on January 9.

  • 18/10/2012 | Argentina

    Capitanich: ‘Nat’l Gov’t not involved in peso bonds swap decision’

    Chaco governor Jorge Capitanich once again defended the decision to swap a dollar debt into pesos and assured that the National Government had not had any involvement in the decision he made last week. He also stated that the province followed a Central Bank disposition.

  • 26/10/2012 | Argentina

    'Ruling does not change the status quo,' Finance Secretary

    Finance Secretary Adrián Cosentino assuredthat the ruling of an appeals court which partially confirmed the ruling of US judge Thomas Griesa in favour of vulture funds “is suspended from the moment it was issued,thus the current status quo has not been changed.”

  • 09/11/2012 | Argentina

    'We will continue to face vulture funds,' Argüello warns

    Ambassador to the US Jorge Argüello assured that that Argentines will continue to face vulture funds, and deemed them as “speculators who bet on usury.”

  • 08/10/2012 | Argentina

    Lorenzino blasts credit rating agencies

    Economy Minister Hernán Lorenzino questioned the "credit rating agencies' behaviour" and the tendentious use of their analysis to develop "self fulfilling prophecies."

  • 12/10/2012 | Argentina

    'Argentina doesn't owe a dollar to the IMF'

    Argentina's Ambassador in the United States, Jorge Argüello, stated that the International Monetary Fund (IMF) will have to redefine itself after "having abandoned its original role" for which it was created for.

  • 16/10/2012 | Argentina

    Lorenzino confirms debt payment, blasts Moody's

    Economy Minister Hernán Lorenzino ratified tomorrow’s down payment of the “Bonar X” dollar-bond for US$200 millions, and blasted credit rating agencies which along with speculators “set terrorist reports in order to make some profit out of it.”

  • 02/08/2012 | Argentina

    Bonfatti raises the stakes, asks Gov't to pay $8 bln debt

    Santa Fe governor Antonio Bonfatti raised the stakes on Thursday and asked the National Government to pay an $8 billion pesos debt, after recently demanding it also pays the province a debt of $1.3 billion pesos in pension funds.

  • 03/08/2012 | Argentina

    Gov't makes final payment of Boden 2012

    The Government today made its final $2.2 billion payment on bonds issued to savers whose dollar- denominated bank accounts were frozen by the Government a decade ago.

  • 17/09/2012 | Argentina

    Moody's downgrades Argentina's outlook

    Moody's Investor Service agency has downgraded Argentina's outlook from stable to negative, stating that it was due to risky economic policies along with the lack of confidence in official statistics.

  • 30/04/2012 | Argentina

    Former policeman detained accused of Quilmes triple crime

    A former policeman was detained accused of the homicide of three friends who were shot dead in a house in the locality of Bernal, Quilmes district. He was arrested as he was trying to escape and triggered a shooting at Barracas neighbourhood, in Buenos Aires City.

  • 26/06/2012 | Argentina

    CFK will settle debt with bondholders

    President Cristina Fernández de Kirchner ratified today her intention to pay off 10.3 billion pesos in August for the 2012 Boden bonds in order to meet the 2001’s "Corralito" payments.

  • 02/08/2012 | Argentina

    Banks, corporations 'never made as much money as they have with this Gov't,' CFK

    While addressing the nation from the Buenos Aires stock exchange floor, President Cristina Fernández de Kirchner assured that as the country readies to pay the nearly $2.2 billion Boden 2012 debt, “we reach the end of a historic cycle” as it puts an end to the infamous corralito. She insisted, however, that “this isn’t a reason to celebrate, but to reflect,” and defended her administration’s restrictions on currency exchange.

  • 24/01/2012 | Argentina

    Boudou highlights foreign debt reduction in last day as acting President

    In his last public appearance as acting President, Vice-President Amado Boudou announced the figures of 2011’s fiscal surplus and gave a heated defence of the Kirchnerite model. He also stressed that funds destined to a foreign debt reduction dropped to “14.1 percent of the GDP.”

  • 16/02/2012 | Argentina

    YPF to pay debt, file appeal

    YPF will pay on Thursdsay and Friday the US$ 8 million debt claimed by AFIP revenue agency, as newspaper Ambito Financiero printed today. Due to the debt, YPF was banned from carrying out export and import duties on Wednesday.

  • 26/04/2012 | Argentina

    Gov’t to use US$5.7 billion of Central Bank’s reserves to pay off debt

    The government announced today a treasury bill of up to $5.7 billion to be bought in several installments to pay for the country’s debt.

  • 29/08/2011 | Argentina

    Schiaretti meets with CFK over Nation's debt with Córdoba province

    Córdoba province Governor Juan Schiaretti met with President Cristina Fernández de Kirchner in the Government House, and claimed a 1.18 billion pesos debt the Nation owes the province.

  • 28/09/2011 | Argentina

    US doubles down on Argentina, urges country to cancel debt

    Argentina must go back to being in good terms with its creditors, US State Department spokeswoman Victoria Nuland says, only a week after a US Treasury Official announced her country will oppose granting any credits to the country in international organizations.

  • 17/12/2011 | Argentina

    CGT cools tensions with Government

    The head of the Judicial union, Julio Piumato, and the head of the textile trade union, Jorge Lobais today assured that there was no breaking up of the relationship between the CGT and the Government, but made clear that they could go forward to the Judiciary to reclaim the debt they have regarding union health insurance payments.

  • 16/05/2011 | Argentina

    US reaches legal debt limit, Republicans demand deep spending cuts

    The United States reached the legal limits of its borrowing authority as a top Republican increased his party's demand for deep spending cuts as part of any increase.

  • 28/06/2011 | Argentina

    Argentines' indebtedness reaches record rate

    The Argentine people’s debt has reached a new historic level, according to a private report. During the first term of 2011, the debt amount contracted regarding salaries reached 21.8 percent, when in 2000, before the default crisis, it was at of 21.6 percent. Inflation and payments plans seem to be the cause of the increase.

  • 12/08/2011 | Argentina

    Mantega: 'The region's economy is in good shape, and what works well, doesn't change'

    Interview by Pablo Jiménez
    Prior to the meeting between UNASUR economy ministers, Economy Minister, Amado Boudou and his Brazilian pair, Guido Mantega, met for dinner in Puerto Madero on Thursday night. Inbetween provoletas, asado, both economy heads spoke exclusively with ambito.com about how the region is prepared to face the international financial and economic crises.

  • 13/12/2010 | Argentina

    Paris Club negotiations to have 2 phases, stimulate investment

    After the meeting held with Paris Club authorities, Economy Minister Amado Boudou said that the negotiation process would have two phases: the first will last through the third week of January and is conciliatory (payment amounts to be defined); the second is to formulate payment plans and has no closing date.

  • 22/12/2010 | Argentina

    Lorenzino: 'The swap offer is a gesture of good will to creditors'

    The government reopened a debt swap launched earlier this year, moving to mop up a remaining $6.1 billion in default and reduce lawsuits against the country.

  • 28/02/2011 | Argentina

    Boudou insists Argentina 'will not cancel Paris Club debt in single payment'

    Economy Minister Amado Boudou insisted that Argentina would not cancel its debt with the Paris Club in a single payment, and explained that the country “clearly needs a payment plan that allows it to keep growing, while reaching out to more workers and substituting imports.”

  • 17/10/2013 | World

    Obama says Americans 'completely fed up' with Washington

    President Barack Obama said today  that Americans are "completely fed up with Washington" a day after the latest fiscal crisis was narrowly averted and called for talks with Congress on the budget, immigration and farm legislation.

  • 15/02/2014 | World

    Obama signs increase in US debt ceiling

    US President Barack Obama signed legislation today that raises the US debt limit through March 2015, taking the politically volatile issue off the table with congressional elections coming up this November.

  • 14/03/2014 | World

    Paris Club invites Argentina to hold debt negotiation

    The Paris Club invited the Argentine government to negotiate paying off its overdue debt, with talks starting in the week of May 26 to take an important step towards settling the long-running debt dispute.

  • 12/10/2013 | World

    'No deal,' fiscal fix stalls in US Congress

    Hopes for a resolution of Washington's fiscal crisis in the next day or two faded on Capitol Hill as President Barack Obama's efforts to reach a deal with Republicans in the House of Representatives sputtered.

  • 14/10/2013 | World

    US Democrats deny debt negotiations stalled

    Senate leaders are "making progress" in their bid to resolve Washington's latest fiscal crisis but still seek agreement on two key points, length of an increase in the debt limit and a funding bill to reopen the government, a Democratic aide said today.

  • 15/10/2013 | World

    White House rejects House Republican fiscal proposal: 'We are far from a deal'

    The White House dismissed the latest fiscal proposal offered by Republicans who control the House of Representatives today, and said that negotiations in the Senate are making progress toward ending a fiscal impasse but "we're far from a deal at this point."

  • 08/10/2013 | World

    Moody's says US default extremely unlikely

    Moody's Investors Service sees very little chance of a US debt default later this month, the rating agency's president and chief operating officer said today.

  • 10/10/2013 | World

    Obama, Republicans continue talks after White House meeting

    Republicans offered a plan to President Barack Obama today that would postpone a possible US default, in a sign the two sides may be moving to end the standoff that has shuttered large parts of the government and thrown America's future creditworthiness into question.

  • 12/10/2013 | World

    US fiscal impasse dragged on, Obama steps up pressure on Republicans

    The US president pressured Republican lawmakers to agree to raise the debt ceiling for longer than they would prefer, as their fiscal impasse dragged into the weekend with five days left to find a deal.

  • 22/01/2013 | World

    White House: Obama would sign short-term debt limit increase

    The White House today welcomed signals by Republican leaders in the House of Representatives that they aim to pass a nearly four-month extension of the US debt limit, saying the move defuses fears of a damaging US debt default.

  • 04/09/2013 | World

    Stiglitz on vulture funds: 'US court ruling tendentious, economically dangerous'

    A column signed by Nobel laureate Joseph E. Stiglitz named "The Vulture's victory" stressed "a recent decision by a United States appeals court threatens to upend global sovereign-debt markets."

  • 09/11/2012 | World

    Griesa urges Gov't to revise position, pay to vulture funds

    US Judge Thomas Griesa urged Argentina to comply with the recent ruling which orders to compensate the bondholders that did not participate in both debt restructuring of the country.

  • 21/11/2012 | World

    Greece's lenders fail again to clinch debt deal

    International lenders failed for the second week to reach a deal to release emergency aid for Greece and will try again next Monday, but Germany signaled that major divisions remain.

  • 10/12/2012 | World

    Greece extends buyback offer to reach target

    Greece has extended its offer to buy back debt until tomorrow, seeking more bids from bondholders after falling just short of a target to retire bonds worth 30 billion euros at a cost of just 10 billion euros.

  • 01/08/2012 | World

    S&P affirms Spain's sovereign rating, keeps negative outlook

    Standard and Poor's Ratings Services affirmed Spain's sovereign rating at BBB+/A-2, citing the country's strong commitments to economic and fiscal adjustments, and said its outlook remained negative.

  • 21/09/2012 | World

    IMF chief urges Europe to act to move beyond crisis

    European policymakers must move quickly to coordinate and implement decisions they have taken to move the euro zone beyond its current debt crisis, the head of the International Monetary Fund said.

  • 01/11/2012 | World

    IMF says financing issues main obstacle on Greek talks

    The International Monetary Fund said today financing issues remained the main obstacle for debt-laden Greece to receive more bailout money from its international lenders.

  • 05/07/2012 | World

    ECB cuts rates to new low, no move on bolder measures

    The European Central Bank cut interest rates to a record low today to breathe life into a deteriorating euro zone economy but steered clear of more dramatic measures such as buying government bonds or flooding banks with fresh liquidity.

  • 17/07/2012 | World

    Spain debt costs fall, key bond test awaits

    Spain's borrowing costs fell, at the first sale of debt since the government announced a new austerity package, but not enough to suggest markets believe the country's finances are on a sustainable path with banking problems yet to be resolved.

  • 18/07/2012 | World

    World Bank chief warns no region immune to Europe crisis

    World Bank President Jim Yong Kim warned that most regions of the world will be hurt by the debt crisis enveloping the euro zone and said it was vital to protect the strong economic gains of the past decade in the developing world.

  • 07/06/2012 | World

    Fitch cuts Spain rating by three notches to 'BBB'

    Fitch Ratings cut its rating on Spain's government debt by three notches to 'BBB' today and signaled it could lower it further by putting the country on negative outlook.

  • 11/06/2012 | World

    OECD: weakness spreading to Asia, Europe debt woes continue

    There are signs that the economies of two of the world's leading emerging powerhouses, India and China, are starting to falter, while Europe continues to be handicapped by its debt woes, the latest report from the OECD showed today.

  • 28/06/2012 | World

    EU summit works on short-term support for Spain, Italy

    European finance officials were working on urgent measures to ease financial market pressure on Spain and Italy, which are too big to bail out, as EU leaders began a summit on Thursday deeply divided over how to resolve the euro zone's debt crisis.

  • 04/06/2012 | World

    G7 to hold emergency eurozone talks, Spain top concern

    Finance chiefs of the Group of Seven leading industrialized powers will hold emergency talks on the euro zone debt crisis tomorrow in a sign of heightened global alarm about strains in the 17-nation European currency area.

  • 05/06/2012 | World

    Japan Finance Minister: G7 to work together on Spain, Greece

    The Group of Seven finance chiefs agreed in a teleconference call to work together to deal with the problems hitting Spain and Greece, Japanese Finance Minister Jun Azumi said today.

  • 07/06/2012 | World

    'Fed is monitoring significant risks for the US from Europe crisis'

    Federal Reserve Chairman Ben Bernanke said today the central bank was ready to shield the economy if financial troubles mount, but offered few hints that further monetary stimulus was imminent.

  • 21/04/2012 | World

    IMF presses Europe to contain debt crisis

    Europe was pressed by other world powers on Saturday to take strong measures to fix its debt-heavy economy and restore growth to a level that would lift the cloud hanging over the fragile global recovery.

  • 25/05/2012 | World

    Spain's Catalonia seeks government help to pay debt

    Spain's wealthiest autonomous region, Catalonia, needs financing help from the central government because it is running out of options for refinancing debt this year, Catalan President Artur Mas said today.

  • 27/05/2012 | World

    Spain may recapitalise Bankia with govt debt, source says

    Spain may recapitalise Bankia with Spanish government bonds in return for shares in the bank which last week asked for rescue funding of 19 billion euros ($24 billion), a government source said on Sunday.

  • 13/03/2012 | World

    ECB Draghi: 'We are alert to the risk of inflation although it's not materializing'

    European Central Bank President Mario Draghi said today that the euro zone's economy appears to be stabilizing but inflation risks were not currently materializing as a large output gap remained.

  • 13/03/2012 | World

    Fitch lifts Greece out of default territory after debt swap

    Fitch lifted Greece's credit rating out of default territory, becoming the first major rating agency to take the widely expected move after Athens completed a debt swap that cut its debt by about 100 billion euros.

  • 04/04/2012 | World

    ECB's Draghi: Exit strategy talk is premature

    ECB President Mario Draghi said today that the euro zone inflation outlook did not warrant a retreat from loose monetary policy given the poor state of the bloc's economy.

  • 08/03/2012 | World

    Massive take-up of Greece bond swap offer

    Greece secured an overwhelming acceptance of a bond swap offer to private creditors and beat its own most optimistic forecasts, a senior official said after the deadline expired on a deal needed to avoid a chaotic debt default.

  • 09/03/2012 | World

    Sarkozy says Greek problem solved

    French President Nicolas Sarkozy said that Greece's debt crisis had been solved after Athens
    won strong acceptance from private creditors for a bond swap deal.

  • 10/03/2012 | World

    Greece turns to growth, elections after debt deal

    After the success of a debt cut plan which paves the way for a 130-billion euro ($170.55 billion) international bailout, attention in Athens is shifting to politics and on how to kick-start debt-laden Greece's stricken economy, officials said .

  • 20/02/2012 | World

    Second Greek bailout in reach, funding gap narrows

    Euro zone finance ministers, locked in marathon overnight talks, inched towards approving a second bailout for debt-laden Greece that would resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy.

  • 22/02/2012 | World

    Fitch downgrades Greece on debt swap plan

    Fitch cut Greece's long-term ratings today to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.

  • 02/03/2012 | World

    Moody's downgrades Greece after debt swap

    Moody's Investors Service cut Greece's sovereign debt rating to the lowest possible level after a debt-restructuring deal that imposes hefty economic losses for private creditors.

  • 14/02/2012 | World

    Moody's warns it may downgrade France, Britain

    Rating agency Moody's said today it downgraded six European nations including Italy, Spain and Portugal, citing growing risks from Europe's debt crisis, and warned it may cut the triple-A ratings of France, Britain and Austria.

  • 15/02/2012 | World

    Greek conservative takes bailout pledge to the wire

    Greek conservative leader Antonis Samaras will send a letter of commitment to the terms of an EU/IMF bailout deal within the day, a party source said with the country's bankruptcy rescue hanging in the balance.

  • 18/02/2012 | World

    Greek cabinet tackles austerity, rescue hopes rise

    Greece's cabinet tackled on how to implement austerity demanded by the EU and IMF as a 130-billion-euro ($171-billion)rescue seemed within reach, while the euro zone considered modifying a deal with private creditors to help Athens reduce its huge debts.

  • 04/02/2012 | World

    Greece struggles on for deal on unpopular reforms

    Greece's government struggled in talks with lenders to secure a 130 billion euro bailout before turning to the trickier task of persuading political leaders to back the unpopular reforms involved in the rescue.

  • 06/02/2012 | World

    Merkel, Sarkozy press Greece as another bailout deadline slips

    The leaders of France and Germany told Greece time was running out in talks on a broad debt restructuring deal and Athens would only get bailout money from Europe if it lived up to its promise to deliver economic reforms in return.

  • 09/02/2012 | World

    ECB's Draghi sees some signs of euro zone stabilisation

    Tentative signs of stabilisation in the euro zone economy remained over the past month but uncertainty remains high, European Central Bank President Mario Draghi said today after the ECB held interest rates at a record low of 1.0 percent.

  • 31/01/2012 | World

    Greece says investor losses from debt swap may top 70%

    Greece's private sector creditors could take a loss of more than 70 percent in a planned debt swap, Finance Minister Evangelos Venizelos said.

  • 02/02/2012 | World

    Greece says ECB must be 'mobilised' for debt deal

    The European Central Bank must take part in Greece's debt swap, Finance Minister Evangelos Venizelos said today, warning that a rescue package for Athens also hinges on other issues being resolved such as labour reforms and how Greek banks are to be recapitalised.

  • 03/02/2012 | World

    IMF says the Fund 'should boost its resources as Europe discusses debt crisis'

    The International Monetary Fund should proceed with talks on increasing the size of its warchest at the same time as Europe discusses how to build a firewall to contain its debt crisis, a senior official from the fund said.

  • 18/01/2012 | World

    IMF seeks $600 billion more in funds

    The International Monetary Fund is seeking to boost its war chest by $600 billion to help countries reeling from the euro zone debt crisis, but some nations insist Europe must first do more to support its ailing members, international financial sources said.

  • 21/01/2012 | World

    Greece's creditors leave Athens, talks to continue

    Chief negotiators for Greece's private creditors left Athens unexpectedly today without a deal on a debt swap plan that is vital to avert a chaotic default, sources close to the negotiations said.

  • 28/01/2012 | World

    Greece, creditors laboriously piece together debt deal

    Greece and its private creditors head back to the negotiating table on Saturday to put together the final pieces of a long-awaited debt swap agreement needed to avert an unruly default.

  • 28/12/2011 | World

    Italy short-term debt costs halve at auction

    Italian short-term debt costs halved at auction as a new package of budget austerity and an injection of cheap long-term money from the European Central Bank won Rome some respite in thin year-end markets.

  • 12/01/2012 | World

    Obama seeks $1.2 trillion debt limit hike

    US President Barack Obama formally notified Congress that he plans a $1.2 trillion increase in the US debt limit, setting the stage for Republicans to level election-year charges that deficits are out of control.

  • 17/01/2012 | World

    US Supreme Court to hear Argentine debt default case

    The US Supreme Court asked Barack Obama's administration for its views of a ruling that unfroze US$105 million of Argentina's central bank deposits in a setback for two US investment funds that sought to seize the money to satisfy their claims from the country's debt default a decade ago.

  • 12/12/2011 | World

    Ratings agencies Moody's, Standard & Poor's put pressure on euro zone

    Moody's Investors Service said it still expects to review its ratings on all European Union sovereign credit in the first quarter of next year, while Standard & Poor's chief economist said time was running out for the currency bloc to resolve its debt problems.

  • 12/12/2011 | World

    Sarkozy: French AAA rating loss would be surmountable

    A loss of France's AAA credit rating would add to the country's difficulties but would not be insurmountable, French President Nicolas Sarkozy said in a interview published today.

  • 12/12/2011 | World

    Greece opens debt swap, bailout talks

    Greece began a round of talks with the EU, the IMF and bankers on Monday, with negotiators facing a tight timetable to decide key aspects of a new bailout plan to pull the country out of its economic crisis.

  • 30/11/2011 | World

    Top Central banks act as euro zone crisis rages

    The world's major central banks acted jointly on Wednesday to provide cheaper dollar liquidity to starved European banks facing a credit crunch as the euro zone's sovereign debt crisis threatened to bring financial disaster.

  • 02/12/2011 | World

    Merkel says debt crisis will take years to solve

    German Chancellor Angela Merkel called for rapid EU treaty change to remedy the root causes of the euro zone's debt crisis but warned that Europeans faced a long, hard "marathon" to restore lost credibility.

  • 02/12/2011 | World

    IMF sees crisis boosting emerging economies role

    Major emerging economic powers are "worlds apart" from euro zone countries, International Monetary Fund (IMF) Managing Director Christine Lagarde said while praising Brazil's economic management for leaving the country better prepared than many to weather contagion.

  • 22/11/2011 | World

    Obama pushes payroll tax cut after debt panel fails

    President Barack Obama will challenge the Congress to preserve an expiring payroll tax cut as he travels to New Hampshire to seize the initiative in the wake of a collapsed effort to reduce the nation's budget deficit.

  • 22/11/2011 | World

    Merkel says treaty changes key to solve debt crisis

    Changing the European treaty to pave the way for closer European integration is vital to solving the euro zone's debt crisis and to restoring confidence, German Chancellor Angela Merkel said.

  • 23/11/2011 | World

    Greek FinMin: political deal to free aid is imminent

    Greece's finance minister said he was optimistic that the country's political parties would do everything necessary as early as today to ensure the release of a sixth aid tranche needed to avert a disastrous debt default.

  • 03/11/2011 | World

    G20: Greek PM ready to go, dump referendum, for euro deal

    Fast-moving events in Athens overshadowed the first day of a summit of the Group of 20 major economies on the French Riviera, with anxious world leaders urging Europe to act to stop contagion from its sovereign debt crisis.

  • 14/11/2011 | World

    Greek conservative leader: 'I won't back more austerity'

    The leader of Greece's main conservative group Antonis Samaras said today his New Democracy party would not vote for any new austerity measures and said the mix of policies demanded by international lenders should be changed.

  • 21/11/2011 | World

    Obama blames Republicans for debt panel failure

    US President Barack Obama blamed Republicans for a congressional committee's failure to reach a deficit-cutting deal and vowed to veto any attempt to water down automatic budget cuts that would kick in by early 2013.

  • 28/10/2011 | World

    EU plan should restore confidence in banks, Fitch says

    Europe's plan to halt the spread of a debt crisis will help restore confidence in banks and should leave the senior debt ratings of even most of the weakest ones unaffected, Fitch Ratings said.

  • 02/11/2011 | World

    Merkel, Sarkozy say no more aid until Greece decides on euro

    Greece will receive no more European bailout aid until it has put an end to uncertainty and agreed to meet its commitments to the euro zone, the leaders of France and Germany said.

  • 03/11/2011 | World

    Greek PM sets talks with opposition, softens referendum stance

    Greek Prime Minister George Papandreou offered today to hold talks with the opposition to resolve the country's political crisis and softened his stance on a referendum on the country's vital bailout package.

  • 20/10/2011 | World

    EU agrees on bank capital needs, split over bailout fund

    The European Union has agreed that around 100 billion euros is needed to recapitalise the European banking system, but splits remain before a high-profile summit on Sunday over how to strengthen the euro zone's bailout fund.

  • 22/10/2011 | World

    EU seeks to break deadlock over bolstering banks

    EU finance ministers neared agreement  on a framework to provide 100 billion euros to European banks, but were still wrangling over how to do it as Spain, Italy and Portugal raised concerns over the cost.

  • 26/10/2011 | World

    Euro zone aims to leverage EFSF 'several fold', draft statement says

    The euro zone aims to leverage its 440 billion euro bailout fund, the EFSF, "several fold" but finance ministers will only agree the details of how that will be done in November, according to a draft statement to be issued after a summit today.

  • 12/10/2011 | World

    EU Commission calls for action on Greece and banks

    The president of the European Commission called today for EU leaders to bring forward the introduction of a permanent rescue mechanism for states to mid-2012 from mid-2013 and called for more rigorous capital standards for banks.

  • 15/10/2011 | World

    G20 tells euro zone to fix debt crisis in eight days

    The world's leading economies pressed Europe today to act decisively within eight days to resolve the euro zone's sovereign debt crisis which is endangering the world economy.

  • 20/10/2011 | World

    Greece adopts austerity bill amid protests

    The Greek parliament approved a painful set of austerity measures on, defying violent protests in central Athens and a general strike which shut down much of the country.

  • 06/10/2011 | World

    Trichet sees intensified downside risks to growth

    Downside risks to economic growth in the euro zone have intensified, European Central Bank President Jean-Claude Trichet said today, taking a slightly more gloomy view than a month ago.

  • 08/10/2011 | World

    Europe eyes bolstering banks ahead of debt storm

    European banks may need more than 100 billion euros (US$135 billion) to withstand the sovereign debt crisis, Ireland estimated, ahead of a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy to work out how to recapitalise the lenders.

  • 11/10/2011 | World

    Troika says Greece likely to get aid tranche in early November

    Greece is likely to receive an 8-billion euro aid tranche it needs to stave off bankruptcy in early November, EU, IMF and ECB inspectors said in a joint statement today concluding a weeks-long review of the country's finances.

  • 29/09/2011 | World

    Greece resumes talks with auditors amid protests

    Civil servants blockaded several ministries to protest against austerity measures as Greece resumed talks with EU and IMF inspectors on an 8 billion euro aid tranche it needs to avoid bankruptcy next month.

  • 29/09/2011 | World

    White House says US supports European actions on debt problems

    The White House said that it supports actions that European leaders have taken on their debt problems and urged them to continue.

  • 01/10/2011 | World

    State job cuts on table at Greek loan talks

    Greek officials held talks with EU and IMF negotiators to free up urgently needed bailout loans, but the government and the lenders were reported to be at odds over how to meet a promise to lay off state workers.

  • 23/09/2011 | World

    G20 pledges to take actions to preserve stability

    A statement issued after G20 talks in Washington said the 17-nation euro zone would implement "actions to increase the flexibility of the EFSF and to maximize its impact" by mid-October.

  • 24/09/2011 | World

    World presses Europe on debt, US warns of bank runs

    The United States, China and other countries piled pressure on Europe to comes to grips with its debt crisis before it risks causing bank runs and pushing the global economy into ruinous recession.

  • 28/09/2011 | World

    EU's Barroso calls on ECB to do whatever it takes in crisis

    European Commission President Jose Manuel Barroso urged the European Central Bank to do everything in its power to maintain financial stability in the euro zone, saying the EU faced the biggest challenge in its 50-year history.

  • 19/09/2011 | World

    International lenders say Greece must shrink state to avoid default

    International lenders told Greece it must shrink its public sector and improve tax collection to avoid default within weeks as investors spooked by political setbacks in Europe dumped risky euro zone assets.

  • 22/09/2011 | World

    Geithner: EU crisis, US politics, biggest threats to economy

    US Treasury Secretary Timothy Geithner said that the European debt crisis and the political divisions in the United States were the biggest threats to the global economy.

  • 22/09/2011 | World

    Obama urges Europe leaders to be forceful on economy

    US President Barack Obama urged European leaders this week to take "forceful and decisive" action to confront current eurozone debt problems, White House spokesman Jay Carney said today.

  • 08/09/2011 | World

    ECB holds rates as recession fears mount

    The European Central Bank held interest rates at 1.5 percent today and is likely to indicate that a policy tightening cycle it began in April is on hold in the face of growing evidence the euro zone's economic recovery is losing momentum.

  • 09/09/2011 | World

    Lagarde: 'Policymakers should take more action to support recovery'

    Policymakers in advanced economies should use all available tools to boost growth, International Monetary Fund Managing Director Christine Lagarde said today, calling for bold action to weather a "dangerous new phase" of recovery.

  • 17/09/2011 | World

    Obama: Americans must pay fair share to cut deficit

    President Barack Obama said that Americans need to be ready to "pay their fair share" to narrow the US deficit, previewing his proposals to Congress that are expected to include more taxes on the rich.

  • 11/08/2011 | World

    Obama vows new growth proposals 'week by week'

    President Barack Obama vowed to put out new proposals "week by week" for boosting economic growth and job creation and said Congress needs to complete work on a deficit-reduction plan.

  • 01/09/2011 | World

    US has 'enormous' debt problem: ECB's Stark

    A debt crisis is still gripping the developed world, European Central Bank policymaker Juergen Stark said, adding there was no alternative but for countries to take painful steps to consolidate their public finances.

  • 07/09/2011 | World

    Court curbs German ability to act fast on debt crisis

    Germany's top court handed its country's parliament a greater say over euro zone bailouts, potentially hampering Berlin's ability to act decisively against a debt crisis which Chancellor Angela Merkel said needed a fundamental rethink to solve.

  • 05/08/2011 | World

    Disapproval of US Congress hits new high after bipartisan battles over debt ceiling

    Disapproval of Congress rose to an all-time high after weeks of rancorous partisan battles over raising the US debt ceiling took the country to the brink of default, according a New York Times/CBS News public opinion poll published today.

  • 05/08/2011 | World

    White House: 'We still have a long way to go'

    It is encouraging that US job growth accelerated more than expected in July, but the country still has a long way to go to recovery, a top White House adviser said.

  • 10/08/2011 | World

    Poll says 73% of US citizens believe country is on wrong track

    US citizens by a large majority believe the United States is on the wrong track and nearly half think the worst is yet to come in the economy, a Reuters/Ipsos poll said today.

  • 02/08/2011 | World

    Fitch keeps US AAA rating, review ongoing

    Fitch Ratings said the agreement to raise the borrowing capacity of the United States means the risk of a sovereign default is "extremely low" and commensurate with a AAA rating.

  • 02/08/2011 | World

    Italy under fire in widening euro debt crisis

    Financial market pressure on Italy intensified, sucking Europe's second biggest debtor nation deeper into the euro area danger zone and prompting emergency consultations in Rome and among European capitals.

  • 02/08/2011 | World

    Moody's confirms US rating at AAA, outlook negative

    Moody's Investors Service confirmed its AAA rating of the United States, citing the decision to raise the debt limit, but assigned a negative outlook to the rating, pressuring lawmakers to create a long-term fiscal consolidation plan.

  • 02/08/2011 | World

    US Senate to vote on debt deal

    Just hours before the Treasury's authority to borrow funds runs out - risking a damaging US debt default - the Senate and President Barack Obama are expected to approve a deal to cut a bulging deficit and lift the $14.3 trillion debt ceiling enough to last beyond the November 2012 elections.

  • 02/08/2011 | World

    US Congress averts default, downgrade fears haunt

    The United States stepped back from the brink of default but congressional approval of a last-gasp deficit-cutting plan failed to dispel fears of a credit downgrade and future feuds over taxes and spending.

  • 02/08/2011 | World

    Obama says more needed to boost US economy

    President Barack Obama said a just-passed bill to raise the US debt ceiling and cut spending was a first step toward ensuring the United States lives within its means but that more was needed to rebuild the world's largest economy.

  • 01/08/2011 | World

    US House passes debt bill, wards off default risk

    The House of Representatives approved a last-gasp deal to raise the US borrowing limit in a decisive step toward averting a catastrophic debt default by the world's largest economy.

  • 01/08/2011 | World

    Gov'ts welcome US debt deal, still worry about ratings

    Japan and Germany welcomed news of an 11th-hour deal to avoid a US government default, but officials in both countries said Washington must do more to deal with its huge debt burden and the threat of a cut in its credit ratings.

  • 02/08/2011 | World

    Geithner unsure if US debt to be downgraded, but debt battle damaged confidence

    In an interview with ABC News aired today, US Treasury Secretary Timothy Geithner said he is not sure whether the bitterly fought debt agreement to be considered by the US Senate will avoid a downgrade of the U.S. top-tier credit rating.

  • 26/07/2011 | World

    IMF chief urges US to resolve debt spat immediately

    IMF chief Christine Lagarde urged the United States to quickly resolve a political stalemate over raising the debt ceiling, warning that failure to reach an agreement would have serious consequences for the world economy.

  • 29/07/2011 | World

    Lawmakers' votes open way for final US debt push

    US lawmakers opened the way for a last-ditch bid for a possible bipartisan compromise to avert a crippling national default just four days before the deadline to raise the country's debt ceiling.

  • 31/07/2011 | World

    Obama announces deal reached to end debt crisis

    President Barack Obama announced a last-minute deal to raise the US borrowing limit and avoid a catastrophic default and he urged lawmakers to "do the right thing" and approve the agreement.

  • 25/07/2011 | World

    Obama: Spending cuts alone not answer on deficit

    President Barack Obama, taking a combative tone in a standoff with congressional Republicans over the US debt, said the country cannot deal with its budget problems through spending cuts alone.

  • 25/07/2011 | World

    Obama urges compromise to avoid 'reckless' default

    President Barack Obama called on Republican and Democratic leaders on Monday night to reach a fair compromise on raising the debt ceiling to avert a "reckless and irresponsible" national default.

  • 25/07/2011 | World

    Obama calls for compromise on debt

    President Barack Obama said on Monday a temporary six-month extension of debt ceiling does not solve the problem and might not be enough to avoid credit downgrade.

  • 22/07/2011 | World

    Top Republican breaks off debt talks with Obama

    US House Speaker John Boehner broke off talks with President Barack Obama on Friday on a deficit-reduction deal to prevent a devastating default and said he would try to hammer out an agreement through the Senate.

  • 23/07/2011 | World

    New dispute threatens US debt limit negotiations

    New disagreement erupted between congressional Democrats and Republicans over the timetable for increasing US borrowing authority, possibly jeopardizing efforts to avert a default.

  • 25/07/2011 | World

    IMF calls for US debt rise, warns of global economic repercussions

    The International Monetary Fund urged the United States to swiftly raise the debt ceiling to ward off risks of a credit downgrade that could damage the global economy.

  • 18/07/2011 | World

    Obama: Can't let politics obstruct tackling deficit

    President Barack Obama said he wants to make sure payroll taxes do not go up for US families next year and that politics should not get in the way of tackling the the US deficit.

  • 21/07/2011 | World

    Taxi drivers block Crete, Corfu ports and airports

    Greek taxi drivers blocked ports and airports on the popular tourist islands of Crete and Corfu, in a strike to protest against government plans to open up their trade to competition.

  • 22/07/2011 | World

    Fitch to slap 'restricted default' status on Greece

    Fitch ratings agency declared Greece would be in temporary default as the result of a second bailout, which Athens said had bought it breathing space.

  • 15/07/2011 | World

    Obama says time running out for debt ceiling deal

    US President Barack Obama that deficit negotiations should have been taken care of early rather than allowed to run this close to the Aug. 2 deadline for raising the US debt ceiling.

  • 17/07/2011 | World

    Fallback plan gains momentum in US debt talks

    With time running short in US debt talks, Republican and Democratic senators sought to craft a plan that could avert an unprecedented government default while making modest cuts in the deficit.

  • 18/07/2011 | World

    Geithner urges EU act forcefully to contain crisis

    "What Europe obviously needs to do is to act more forcefully to contain the risk of an escalating crisis in Europe," Geithner told CNBC television. "They have the capacity to manage this in a way that does not add to the broader burdens of the global economy."

  • 13/07/2011 | World

    Fitch downgrades Greece on lack of funding program

    Fitch Ratings downgraded Greece deeper into junk territory, citing the absence of a new and fully funded financing program for the country.

  • 14/07/2011 | World

    IMF says Irish must keep strictly to debt plans

    Ireland will need to continue to closely adhere to its goals under an EU-IMF bailout to limit the fallout from potential contagion effects from the euro zone debt crisis, officials from the EC, the IMF and the ECB said.

  • 14/07/2011 | World

    Obama asks lawmakers to gauge support for debt deal

    US President Barack Obama concluded a round of debt talks by sending lawmakers back to Congress to gauge support for a deal, saying a package to cut the deficit by $2 trillion was within reach.

  • 09/07/2011 | World

    US Republican leader says broad debt deal unlikely

    An effort to craft a broad deal of up to $4 trillion in deficit-reduction appeared out of reach as Republican leader John Boehner cited differences with the White House on taxes and proposed pursuing a more modest package.

  • 11/07/2011 | World

    Obama wants largest possible deal in debt talks

    President Barack Obama said that congressional leaders will meet every day until the debt ceiling issue is resolved, adding that there is "a lot of work to do" to tackle the problem.

  • 12/07/2011 | World

    Obama warns seniors could be hurt without debt deal

    US President Barack Obama raised the stakes in the third straight day of budget talks, warning that senior citizens and veterans may suffer first if the debt ceiling is not raised by Aug. 2.

  • 06/07/2011 | World

    Obama tweets for the first time, tweaks Republicans

    US President Barack Obama took to Twitter today to press his economic agenda, using the popular social media site to tweak Republicans and advocate for a deal to reduce the deficit.

  • 07/07/2011 | World

    US debt talks aim for at least US$3 trln deal, sources say

    US President Barack Obama and congressional leaders are aiming for at least US$3 trillion and possibly more than US$4 trillion in budget savings after a White House meeting today, Democratic aides said.

  • 08/07/2011 | World

    Obama: 'Debt limit fight fuels business uncertainty'

    President Barack Obama, speaking after the release of a gloomy US jobs report for June, cited the debt limit dispute, along with the crisis in Greece, as among factors making companies more hesitant to hire and invest.

  • 14/05/2011 | World

    Geithner warns of new recession without debt rise

    With the government about to hit its $14.3 trillion debt limit, US Treasury Secretary Timothy Geithner has warned of "catastrophic" consequences and a new recession if Washington is not able to borrow more.

  • 08/06/2011 | World

    Germany puts Greek restructuring back on table

    Germany has put a Greek restructuring back on the table, demanding in a letter to its EU partners that private bond holders make a major contribution to a looming debt relief deal for the struggling euro zone member.

  • 04/07/2011 | World

    S&P warning adds default threat to Greece's bailout

    Greece would likely be in default if it follows a debt rollover plan pushed by French banks, S&P warned, deepening the pain of a bailout that one European official said will cost Athens sovereignty and jobs.

  • 21/12/2010 | World

    Portugal faces rating cut, Spanish debt costs rise

    Portugal was put on notice that its credit rating could be cut and fellow euro zone debtor Spain had to pay more to issue new debt, suggesting the currency bloc's crisis will rage unabated in 2011.

  • 27/01/2011 | World

    S&P cuts Japan sovereign debt rating; warning to rich world

    Standard & Poor's cut Japan's credit rating for the first time since 2002, saying Tokyo lacked a plan to deal with its mounting debt, in a warning that will rattle other heavily indebted rich nations.

  • 12/05/2011 | World

    Debt crisis could still spread to EU core: IMF

    Despite bailouts for Greece, Ireland and Portugal, Europe's debt crisis could still spread to core euro zone countries and the emerging economies of eastern Europe, the International Monetary Fund warned.

  • 04/10/2011 | Latin America

    EU and Brazil call for united action on debt crisis

    Brazil and the European Union must take concerted action to calm markets fearful of global contagion spreading from Europe's debt crisis, leaders from both sides said today.

  • 18/10/2011 | Latin America

    Brazil’s Rousseff asks for ‘credible’ compromise to tackle EU debt crisis

    Brazil’s Rousseff asked today for a “credible comprise” to overcome EU debt crisis. Leaders from India, Brazil and South Africa urged the world's rich countries today to contain their financial crises and prevent the global economy from slipping into a double dip recession.

  • 21/02/2013 | Economy

    Lorenzino: ‘Issuing debt is dangerous’

    Economy Minister Hernán Lorenzino said that provinces that decide to issue debt in order to pay wages “are wandering down a dangerous road,” in reference to the financial situation of the BA Province, adding that “constant victimization is not appropriate.”


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