South America

Results for South America

Argentina Reaches Debt Deal With 2 Hedge Funds

Argentina has offered to pay $6.5 billion to a group of hedge funds holding bonds it defaulted on 14 years ago in a historic effort by the nation to put a bitter legal battle behind it, the International New York Times DealBook blog reported. Montreu ...

Daily Headline - global.abi.org - 02/07/2016 - 19:51 - 0 comments

A Debt Default May Be Venezuelans’ Best Hope

Azerbaijan has called for help from the International Monetary Fund. Nigeria is turning to the World Bank. Russia and Saudi Arabia are slashing public spending and considering sales of state assets. In Venezuela, where the collapse in oil prices has been ...

Daily Headline - global.abi.org - 02/04/2016 - 21:43 - 0 comments

Inflation-Wrought Venezuela Orders Bank Notes by the Planeload

Millions of pounds of provisions, stuffed into three-dozen 747 cargo planes, arrived here from countries around the world in recent months to service Venezuela’s crippled economy, The Wall Street Journal reported. But instead of food and medicine, th ...

Daily Headline - global.abi.org - 02/03/2016 - 22:10 - 0 comments

Argentina To Pay Italian ‘Holdout’ Creditors

Argentina made its first agreement with a group of “holdout” creditors that rejected debt restructurings after the 2001 default on Tuesday, moving a step closer to regaining unfettered access to international capital markets, the Financial Times repo ...

Daily Headline - global.abi.org - 02/02/2016 - 21:10 - 0 comments

Brazil President Dilma Rousseff Asks Hostile Congress to Pass Austerity Bills

Embattled Brazilian President Dilma Rousseff called on Congress to approve a new tax on financial transactions and other potentially unpopular bills to balance the nation’s finances and reverse a deep recession, The Wall Street Journal reported. Ms. ...

Daily Headline - global.abi.org - 02/02/2016 - 21:11 - 0 comments

Brookfield Withdraws Offer To Buy Invepar Stake, Sources Say

Brookfield Asset Management Inc has withdrawn an offer to buy the 24.4 percent stake in infrastructure company Invepar held by Brazil's Grupo OAS SA because Brookfield would not have full management control of the company, two sources with direct kn ...

Daily Headline - global.abi.org - 02/01/2016 - 20:12 - 0 comments

Brazil Court Upholds OAS Bankruptcy Plan, Paving Way For Asset Sales

A Brazilian bankruptcy court upheld a restructuring plan for embattled engineering conglomerate Grupo OAS, paving the way for a slew of asset sales aimed at helping pay over 8 billion reais ($2 billion) in liabilities. In a Thursday statement, the São Pa ...

Daily Headline - global.abi.org - 01/28/2016 - 21:08 - 0 comments

Brazil A Bright Spot For Debt Restructuring Advisors As Recession Bites Hard

Debt restructuring firms are poised to pull in record amounts of business in Brazil this year as the country's worst recession in decades and a corruption probe that has cast a shadow over dozens of companies leads to a surge in defaults, Reuters re ...

Daily Headline - global.abi.org - 01/28/2016 - 21:10 - 0 comments

Venezuela Congress Rejects Maduro’s Economic Plan

Venezuela’s opposition-controlled congress on Friday rejected an economic emergency decree proposed by President Nicolás Maduro to confront the deepest recession in the country’s history, the first time the body has moved against the government in 17 yea ...

Daily Headline - global.abi.org - 01/24/2016 - 22:46 - 0 comments

Brazil Seeks Buyers For Abandoned Abengoa Transmission, Wind Projects

Brazil's Mines and Energy Ministry said on Friday it held talks this month with various investors in the transmission line and wind sectors to feel out potential interest in taking over local projects abandoned by Spain's financially distressed ...

Daily Headline - global.abi.org - 01/24/2016 - 22:48 - 0 comments

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