Monday
November 24, 2014
Results for: default
  • 17/09/2014 | Argentina

    Kicillof: No economic reason why dollar should be at 15 pesos

    Economy minister Axel Kicillof has questioned the record rise of the parallel 'blue' dollar, suggesting that those behind the unofficial currency were looking to spread panic in the Argentine economy.

  • 01/08/2014 | Argentina

    ISDA declares credit event on Argentina CDS

    The International Swaps and Derivatives Association (ISDA) today effectively declared Argentina in default, setting in motion a process that could trigger payments worth up to USD1bn on credit default swaps.

  • 05/08/2014 | Argentina

    ISDA to deliberate on Argentina's default

    The International Swaps and Derivatives Association (ISDA) will decide today at noon whether Argentina has defaulted on its debt, which would set in motion a process that could trigger payments worth up to USD1bn on credit default swaps.

  • 13/08/2014 | Argentina

    ISDA sets Argentina CDS auction for August 21

    The International Swaps and Derivatives Association (ISDA) will hold an auction on August 21 to settle Argentina's outstanding credit default swaps.

  • 31/07/2014 | Argentina

    Gov't denies default, bashes US Judiciary

    Cabinet Chief Jorge Capitanich said Argentina’s "alleged technical default is an absurd fabrication" and accused the US Judiciary of “malpractice.”

  • 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.

  • 30/07/2014 | Argentina

    Banks' offer involves 'private agents only, not public sector'

    Cabinet Chief Jorge Capitanich referred to the u$s 250-million payment offer made by national private banks as a last-minute proposal to holdout hedge funds to prevent Argentina from plunging into a technical default.

  • 30/07/2014 | Argentina

    S&P downgrades Argentina to 'selective default'

    Rating agency Standard & Poor's has officially downgraded Argentina's sovereign debt grade to the category of selective default, while negotiations to pay bondholders broke down in New York today.

  • 30/07/2014 | Argentina

    Banks, vulture funds discuss details of debt agreement; meeting to be resumed tomorrow

    The meeting between Argentine private bank representatives and the so called “vulture funds” over the debt held by the hedge funds has been adjourned and will be resumed tomorrow. Ámbito.com has revealed that banks will contribute around 1.4 billion dollars in order to buy the titles from the holdouts investors.

  • 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

    US Pollack confirms meeting with Argentine delegation tomorrow, without holdouts

    An Argentine delegation will travel to New York tonight to meet with US court-appointed Special Master Daniel Pollack in its debt dispute with "holdout" investors. The meeting is scheduled for 12 pm (Argentine time), and without the presence of holdouts' representatives.

  • 29/07/2014 | Argentina

    Scioli confident about settlement with holdouts

    The governor of Buenos Aires province Daniel Scioli expressed confidence that an agreement with the so called vulture funds can still be reached. “I see last-minute positive signs,” he said.

  • 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.

  • 21/07/2014 | Argentina

    Vulture funds ‘voracious at seizing real assets,’ Gov’t says

    The Cabinet Chief Jorge Capitanich has blasted once again the holdout hedge funds accusing them of being after YPF-Chevron assets in ressources-rich Vaca Muerta region. “If anything is clear it is their voracity to seize real assets,” he stated.

  • 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.

  • 16/07/2014 | Argentina

    ‘Argentina has not defaulted, it will not default, Argentina pays”

    Cabinet Chief Jorge Capitanich bluntly rejected once again any possibility of Argentina falling into default and reiterated the government’s willingness to negotiate, in response to a new ad published in local newspapers.

  • 16/07/2014 | Argentina

    ATFA: 'Time is running out for Argentina'

    The American Task Force Argentina (ATFA) group the government has officially accused of being funded by same holdout creditors suing Argentina over its defaulted bonds, has resumed its advertisement campaign against Buenos Aires.

  • 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.”

  • 18/06/2014 | Argentina

    Argentina offers to open 'vulture fund' negotiations; Griesa warns against changing payment jurisdiction

    Argentina's attorneys today informed US Judge Thomas Griesa that government officials plan to travel to New York next week to negotiate with holdouts to solve the situation, while the magistrate warned that reopening swaps to change the debt's jurisdiction to Argentina would be considered a breach of the ruling.

  • 19/06/2014 | Argentina

    Scioli 'confident' vulture funds' conflict 'will turn out fine'

    Buenos Aires province Governor Daniel Scioli expressed his confidence about reaching a way out to a 1.3 billion dollar dispute that could plunge Argentina into default again. Scioli called to “communicate confidence to people that this will turn out fine.”

  • 03/07/2014 | Argentina

    China, Cuba ratify support to Argentina in VF dispute

    The governments of China and Cuba have ratified their support to Argentina in its long-standing battle against vulture funds, a legal dispute that threatens to plunge the South American country into what the federal government has called the “euphemism” of a “technical default.”

  • 19/11/2012 | Argentina

    'They are trying to cause a technical default,' CFK

    President Cristina Fernández de Kirchner referred to the recent rulings in a US court in favour favoring vulture funds and assured that “they are trying to cause a technical default.”

  • 27/11/2012 | Argentina

    Fitch downgrades Argentina on 'probable default'

    Fitch Ratings agency announced it has downgraded Argentina's long-term foreign currency Issuer Default Rating from "B" to "CC," with a negative outlook, as it sees a "probable default" if the country misses its payment to holdout investors.

  • 18/06/2014 | Argentina

    Argentina's lawyers head new negotiation attempt with NY Judge Griesa

    Lawyers representing Argentina in the United States in a 1.5 billion dollar dispute that risks sending the South American country into a sovereign debt default, were expected to meet New York appeals Judge Thomas Griesa this morning in a new negotiation attempt.

  • 01/08/2011 | Argentina

    'A US default would have had delicate consequences on global economies,' Gov't says

    Economy Minister Amado Boudou referred to the US debt deal, which was agreed upon late on Sunday to avoid the country entering default. He also ratified that the Government will pay US$ 2.20 billion corresponding to Boden 2012 bond payments.

  • 05/08/2011 | Argentina

    Government scraps Brady bond swap after court ruling

    Cristina Fernández de Kirchner's administration canceled an offer for creditors to swap up to $263 million and 54 million euros in defaulted Brady bonds for new debt, two weeks after a US court ruling effectively blocked the exchange.

  • 06/09/2011 | Argentina

    Pérez Esquivel sends letter to Obama with advice on how to 'avoid default'

    Nobel Peace Prize winner Adolfo Pérez Esquivel sent a letter to US president Barack Obama, in which he offers some suggestions on how to leave an economic crisis behind in case of a financial default. 

  • 08/10/2013 | World

    Obama would veto bill for new deficit-reduction panel - White House

    US President Barack Obama would veto a bill by the House of Representatives that would create a bipartisan panel to make recommendations on reducing the country's deficit and debt limit.

  • 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.

  • 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."

  • 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.

  • 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.

  • 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.

  • 23/01/2012 | World

    Euro zone ministers reject private bondholders' Greece offer

    Euro zone finance ministers rejected as insufficient an offer made by private bondholders to help restructure Greece's debts, sending negotiators back to the drawing board and raising the threat of Greek default.

  • 24/01/2012 | World

    S&P says likely to declare Greece in default

    Standard & Poor's will likely downgrade Greece's ratings to "selective default" when the country concludes its debt restructuring, but that will not necessarily destroy the credibility of the European Union, an official with the ratings agency said today.

  • 09/03/2012 | World

    Venizelos: Greek bond swap 'exceptional success'

    The Greek Finance Minister, Evangelos Venizelos, hailed the winning strong acceptance from its private creditors for a bond swap deal an “exceptional success.” The deal was demanded by international leaders in return for the 130 billion euro ($172 billion) bailout.

  • 25/10/2011 | World

    IMF considering participation in EU bailout fund

    The International Monetary Fund is considering taking part in a special investment vehicle being proposed by the euro zone bailout fund but has not made a decision yet, euro zone officials said today.

  • 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.

  • 17/01/2012 | World

    Fitch says Greece will go into default

    Rating agency Fitch said that Greece would default on its debt, although it said that such a default was likely to take place in an orderly manner.

  • 26/09/2011 | World

    Greece: there were no orderly default talks with IMF, ECB

    Greek Finance Minister Evangelos Venizelos dismissed reports that he has discussed a scenario of an orderly default by Athens with International Monetary Fund Chief Christine Lagarde and European Central Bank head Jean-Claude Trichet.

  • 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.

  • 07/10/2011 | World

    IMF chief: Greece-troika talks not over, hope to end soon

    The head of the International Monetary Fund's mission for Greece said a review of the country's progress under a bailout deal would hopefully be concluded positively soon, but talks were not yet finished.

  • 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.

  • 23/09/2011 | World

    Talk of a possible Greek default gains pace

    Greek Finance Minister Evangelos Venizelos was quoted by two newspapers as saying an orderly default with a 50 percent haircut for bondholders was one of three possible scenarios for resolving the heavily indebted euro zone nation's fiscal woes.

  • 26/09/2011 | World

    IMF reiterates Greece must shrink state to avoid default

    International lenders told Greece today 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.

  • 23/08/2011 | World

    S&P replaces president with Citibank exec after US downgrade

    The chief of Standard & Poor's will step down next month, to be replaced by a senior Citibank executive, in a move announced a few weeks after the credit rating agency downgraded US government debt and sparked a row with Washington.

  • 13/09/2011 | World

    Merkel, Obama voice concern over Greece debt crisis

    German Chancellor Angela Merkel sought to quash talk of an imminent Greek default today as the United States voiced fresh concern at the euro zone's inability to master its debt crisis. President Barack Obama expressed his concern in an interview with Spanish journalists.

  • 18/09/2011 | World

    Greece braces for more austerity to avert default

    Greece today pledged to take the tough decisions needed to avoid default but announced no new austerity measures to secure international bailout funds next month.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 12/07/2011 | World

    Europe considers Greek default, leaders to meet

    European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens' debts and stop contagion to Italy and Spain.

  • 20/07/2011 | World

    Change of mind: White House open to short-term debt extension

    The White House shifted gears today and signaled that President Barack Obama could support a short-term extension of the US borrowing limits as long as it was part of a broader long-term deficit reduction deal.

  • 31/07/2011 | Latin America

    Lat Am could create 'collective defense' in case of US default, Mujica

    President of Uruguay José Mujica stated that it is “probable” that Latin American countries come together to “create a collective defense” to be able to face the impact of an eventual economic default in the United States.

  • 19/07/2013 | Economy

    Argentina bonds soar after IMF backing

    Argentina’s bond prices rose sharply yesterday as the International Monetary Fund surprised investors by supporting the country in its decade-long legal battle with holdout creditors.


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