South America

Results for South America

Citigroup Tells Appeals Court of Its Argentina Quandary

Argentina is holding a gun to the head of Citigroup, a lawyer for the bank told a three-judge panel in Manhattan on Thursday, the International New York Times DealBook blog reported. The bank has found itself in an awkward position: It must decide be ...

Daily Headline - global.abi.org - 09/18/2014 - 21:38 - 0 comments

Colombia Seeks Dividend From Wealthiest 1%

Mauricio Cárdenas, Colombia’s finance minister, describes his government’s economic agenda with a nod to French economist Thomas Piketty, who argues for taxes on the rich to reduce the concentration of wealth in the hands of a few. “It is very important ...

Daily Headline - global.abi.org - 09/17/2014 - 22:18 - 0 comments

Brazil's Batista Faces Criminal Charges

Brazil's federal prosecutors have filed criminal charges against Eike Batista, a once high-flying Brazilian businessman, compounding his legal troubles. Prosecutors in Rio de Janeiro charged Mr. Batista with financial crimes and requested the freezi ...

Daily Headline - global.abi.org - 09/14/2014 - 21:17 - 0 comments

Maduro Says Venezuela Can Pay Debt, Decries Default Fears

President Nicolas Maduro said Venezuela could meet all its obligations to bondholders, as he sought to quell market fears that the Socialist-run country may opt to default when $5 billion of its foreign debt falls due for repayment next month, Reuters re ...

Daily Headline - global.abi.org - 09/11/2014 - 21:44 - 0 comments

Argentina Passes New Debt Bill With Eye On Next Payment

Argentina's Congress on Thursday passed a new bill designed to enable the government to resume debt payments to bondholders in defiance of a U.S. court ruling which tipped the country back into default, Reuters reported. President Cristina Fernandez ...

Daily Headline - global.abi.org - 09/11/2014 - 21:45 - 0 comments

Argentina Said to Tighten Currency Rules as Reserves Drop

Argentina is tightening its grip on the country’s currency market as international reserves decline following its second debt default in 13 years, Bloomberg News reported. Argentine banks must now seek government authorization for dollar purchases of $15 ...

Daily Headline - global.abi.org - 09/10/2014 - 21:47 - 0 comments

UN to Debate Debt Restructuring Reform

On Tuesday September 9 the United Nations General Assembly will meet to debate a new legal framework to serve as a guide for nations restructuring their debt, as is the current case with Argentina, teleSur reported. More than 130 developing countries hav ...

Daily Headline - global.abi.org - 09/08/2014 - 23:06 - 0 comments

Fernández Likely To See Out Term With Battle Cry For ‘Fatherland’

In the aftermath of the country’s default, Argentine president Cristina Fernández’s approval ratings jumped as she defiantly stood up to Argentina’s “holdout” creditors, who rejected debt restructurings accepted by 93 per cent of bondholders after the co ...

Daily Headline - global.abi.org - 09/07/2014 - 21:40 - 0 comments

Argentine Economist Says Bond Holdouts Should Be Paid

Domingo Cavallo, the architect of Argentina’s first debt restructuring deal in 2001, has a solution for the country’s worsening debt drama: pay the holdouts, the International New York Times DealBook blog reported. “Argentina should comply with Judge ...

Daily Headline - global.abi.org - 09/04/2014 - 20:42 - 0 comments

Sovereign Debt Plan Takes On Holdouts

Bond market heavyweights, backed by Washington, have come up with a plan they say should avoid a repeat of the sovereign debt meltdown between Argentina and its holdout creditors, the Financial Times reported. The International Capital Market Associa ...

Daily Headline - global.abi.org - 09/02/2014 - 22:39 - 0 comments

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