Blow to Fernández over judiciary plan

Financial Times June 19, 2013 By Jude Webber Argentina’s Supreme Court dealt a blow to the government of Cristina Fernández and her plans to “democratise” the judiciary by ruling unconstitutional a new law that allows direct election of members of a council who nominate and fire judges. The law, which has been stoutly defended by… Read more

Iran again criticizes ‘Zionism’

La Nacion June 19, 2013 The spokesman for the Foreign Relations Ministry of Iran, Sayed Abbas Araghchi, yesterday said that diplomatic relations between Iran and Argentina are going through a “reasonable process” and denounced that “foreign and Zionist factors were the true causes” of the bombing of the AMIA. Three days after Iran elected Hasan… Read more

U.S. Congress invites prosecutor Nisman on his report on Iran

La Nacion June 14, 2013 By Silvia Pisani WASHINGTON.- There still have not been any results seen in the case.  But the agreement with the govenrment of Iran that was pushed by Foreign Minister Hector Timerman is consolidating as a factor of disagreement, anger and suspicion with political sectors of the United States, who invited… Read more

Blog Post: CFK Peddles Unconstitutional Judicial “Reforms” on Twitter

June 14, 2013 Earlier this week, President Kirchner held a rally in Rio Gallegos to defend her plan to reform the judiciary.  In her speech, Kirchner stated that she would do anything to “democratize” the three branches of government.  Afterword, she used Twitter to lash out against the most senior member of the Judiciary, Justice… Read more

US, Spain and Germany vote against Argentina at the IADB

Ambito Financiero August 30, 2012 By Carlos Burgueno A credit for an insignificant amount from the Inter-American Development Bank (IADB) put the government on notice yesterday about what it will have to face in international credit organizations. Yesterday, the board of that entity, led by Luis Alberto Moreno, approved a disbursement of US$60 million to… Read more

Argentine President Cristina Kirchner's Popularity Plummets

70% of Argentines Disapprove of Populist Leader’s Economic Policies August 29, 2012 President Cristina Kirchner’s popularity has fallen dramatically amid worries of high inflation according to Argentine polling company Management & Fit. Just 30% of Argentinians approve of her handling of the economy, an approval rating that has continued to drop over the last year…. Read more

More than 70% disapprove of the government's current economic management

El Cronista August 28, 2012 According to a private opinion poll taken at the national level, 72% do not agree with the way that Cristina is handling the economy. Employment, a rising concern. The framework that governs the economy is seen with worry by a large portion of Argentines. The information comes in the latest… Read more

As Argentina's economy slows, President Cristina Fernandez's popularity dips

Reuters August 26, 2012 Argentina’s President Cristina Fernandez’s popularity dropped drastically over the past year, mostly due to a rise in inflation and an increase in street crime. By Hugh Bronstein Buenos Aires – Argentine President Cristina Fernandez’s popularity sank to 30 percent in August, less than half of what it was a year earlier,… Read more

Argentina accused of protectionism at WTO strikes back

Reuters August 21, 2012 By Tom Miles and High Bronstein (Reuters) – The United States and Japan assailed Argentina’s import rules as protectionist at the World Trade Organization on Tuesday, putting more pressure on the country to revamp policies that many trading partners say violate global norms. The two complaints mirrored litigation brought by the… Read more

Argentina Central Bank to Continue Lending to Federal Government

The Wall Street Journal August 17, 2012 BUENOS AIRES–Argentina’s central bank president said Thursday the monetary authority will continue lending money to the federal government and push ahead with its unorthodox approach to dealing with inflation and other economic issues. Central Bank of Argentina President Mercedes Marco del Pont criticized neoliberal economic policy prescriptions and… Read more

Stiglitz asks for independent statistics

La Nacion August 15, 2012 By Florencia Donovan Like a good guest, the winner of the Nobel Prize for Economics, Joseph Stiglitz, avoided making his host uncomfortable at every turn. Like he’d done a day earlier, with President Cristina Kirchner, the American economist spoke yesterday at the Faculty of Economic Sciences at the University of… Read more

Argentines feeling trapped by currency controls

Huffington Post September 04, 2012 By Michael Warren BUENOS AIRES, Argentina Argentines are increasingly feeling trapped inside their country as the government restricts access to the foreign cash they need to travel. Legally trading pesos for dollars or euros has become ever more difficult as President Cristina Fernandez tries to keep dollars inside the country… Read more

Argentina's congress considers lowering voting age to 16 amid debate over politicizing schools

The Washington Post September 05, 2012 BUENOS AIRES, Argentina Debate began in Argentina’s senate Wednesday on a proposal to lower the voting age from 18 to 16, while another battle heated up over efforts to bring politics into the public schools. Sen. Anibal Fernandez, who is sponsoring the voting measure, said it’s “stupid” to think… Read more

Argentina falls nine places in competitiveness

La Nacion September 06, 2012 By Martin Kanenguiser Argentina lost nine positions last year in the ranking of global competitiveness compiled annually by the World Economic Forum (WEF) in Davos, after the restrictions on imports and the persistence of problems like inflation, corruption, and the inefficiency of fiscal policy. On a list led by Switzerland… Read more

The Paris Club will lay claim to Argentina's debt today

La Nacion Wednesday, September 12, 2012 By Martin Kanenguiser The Paris Club will analyze the status of Argentina’s debt today, which has been unpaid since the end of 2001 and which comes to around US$9 billion.   Diplomatic sources told LA NACION yesterday that the creditor countries are waiting “anxiously and with concern” over the… Read more

Summit of bondholders in Paris Club over Argentina

Ambito Financiero Wednesday, September 12, 2012 Yesterday in the French capital there was a conclave among bankers, bondholders and representatives of the Paris Club, which was also attended by officials of the IMF and the World Bank, where they analyzed debt restructurings.  The Argentina case was not absent and according to one of the organizers… Read more

Harsh report from IMF could turn into sanctions

La Nacion Friday, September 14, 2012 By Silvia Pisani WASHINGTON.- Two recent video conferences that put in evidence the short circuits between the parties, a document written “in strong terms” towards Argentina that is already in the hands of the 24 board members of the International Monetary Fund (IMF), and an oral report that will… Read more

More barriers for approving credits at the IADB

La Nacion Friday, September 14, 2012 WASHINGTON (From our correspondent).- New European countries and Canada joined yesterday in the rejection already exercised by the United States and Spain towards the concession of credits from the International Development Bank (IADB) to the country.  In every day, as has been happening, a new package of US$700 million… Read more

Complaints from the Paris Club and risk of IMF condemnation

Clarin Friday, September 14 , 2012 By Marcelo Bonelli The main multilateral organizations continue to be concerned with the Argentine situation, with a lack of proposals to end the default and the absence of reliable statistics. The leadership of the Paris Club launched a very strong criticism against the government for its reiterated lack of… Read more

A massive pot-banging protest against the government is felt in the whole country

La Nacion Friday, September 14, 2012 By Jaime Rosemberg Pots, lids, whistles, horns, trumpets, drums or simply thunderous applause.  All of this made a lot of noise yesterday as a backdrop for the biggest anti-Kirchner demonstration since the crisis between the government and the farmers in 2008. Without visible political leadership, the protest surged from… Read more

SHOULD THE IMF CENSURE ARGENTINA ON MONDAY?

Friday, September 14, 2012 In a word, yes.  Monday, the International Monetary Fund will review Argentina’s progress to normalize its public economic statistics, following a six month probationary period.  Argentina has been warned time and again that it must improve the transparency of its statistics on inflation and GDP – show how they come up… Read more

La presión nacional e internacional aumenta contra la Presidenta argentina Cristina Kirchner

El Club de París y el FMI consternados con Argentina; Canadá e Italia votan contra nuevos créditos del BID para Argentina; y grandes protestas contra la Kirchner socavan la imagen de su gobierno WASHINGTON, 17 de septiembre de 2012 /PRNewswire/ — Tras las recientes protestas contra Cristina Kirchner en toda Argentina, la ATFA elogió el… Read more

Moody’s cambió a negativo panorama de la deuda local

Ambito Financiero Tuesday, September 18, 2012 La agencia calificadora de riesgo Moodys Investors Service cambió ayer el panorama de la calificación de la Argentina a negativo desde estable, basándose en decisiones de política económica azarosas junto con crecientes interrogantes sobre la confiabilidad de las estadísticas oficiales. Moodys advirtió además que podría recortar la calificación del… Read more

Moody's Lowers Argentina Outlook on Policy Environment, Data-Reporting Concerns

The Wall Street Journal Monday, September 17, 2012 By Nathalie Tadena Moody’s Investors Service lowered its outlook on Argentina to negative from stable, citing a continued haphazard policy environment, concerns about the country’s official-data reporting and the lack of resolution of debt arrears. Moody’s rates Argentina at B3, six levels into junk territory. The ratings… Read more

IMF delays report on Argentina' controversial economic data reporting

MercoPress Tuesday, September 18, 2012 The IMF Board of Directors analyzed on Monday Argentina’s statistics and the government’s level of commitment to the entity’s recommendations. IMF spokesman Gerry Rice had informed last week, “The managing director (Christine Lagarde) will inform the board on Monday about Argentina.“ ”It wouldn’t be appropriate for me to anticipate such… Read more

IMF meets to consider progress on Argentina data

Reuters Monday, September 17, 2012 (Reuters) – The International Monetary Fund board met on Monday to discuss whether Argentina has made progress in improving the quality of its inflation and growth data since an IMF warning in February, an IMF spokesman said. The Fund did not immediately issue a statement on the meeting although one… Read more

IMF to Put Argentina on Path to Censure Over Inflation Data

Bloomberg Tuesday, September 18, 2012 Sandrine Rastello and Eliana Raszewski Argentina is on track to be the first country ever censured by the International Monetary Fund for not sharing accurate data about inflation and the economy. The IMF’s board of directors, meeting yesterday in Washington, gave the country until Dec. 17 to respond to concerns… Read more

Argentina Says Biodiesel Export Tax Rate Will Be 19.1%

Bloomberg Thursday, September 20, 2012 By Pablo Gonzalez and Silvia Martinez The Argentine government will charge a 19.1 percent tax rate for soybean biodiesel exports during the next 15 days, deputy Economy Minister Axel Kicillof said today in a press conference held in Buenos Aires. President Cristina Fernandez de Kirchner announced yesterday that from now… Read more

A short winded and bitter tasting pact with the IMF

Clarin Friday, September 21, 2012 By Marcelo Bonelli A dozen members of the board of the International Monetary Fund strongly criticized Christine Lagarde over the postponement agreed to with the Casa Rosada for Argentina to normalize and make transparent its figures from INDEC.  They sent a private internal letter to the head of the organization,… Read more

Un pacto de corto aliento y de sabor amargo con el FMI

Clarin Friday, September 21, 2012 Por Marcelo Bonelli Una decena de miembros del directorio del Fondo Monetario Internacional cuestionó duramente a Christine Lagarde por la prórroga que pactó con la Casa Rosada para que la Argentina normalice y transparente las cifras del INDEC. Le dirigieron una nota interna y privada a la jefa del organismo,… Read more

U.S. ties will not improve in the coming years, it is said

La Nacion Saturday, September 22, 2012 By Martin Kanenguiser Tie or defeat.  Those are the possible results for relations between Argentina and the U.S. after the American presidential elections in November, over the lack of agreement over debts unpaid since 2001 and the restrictions that affect growth and investments.  So said to LA NACION from… Read more

Argentina Gives Opposition Media Dec. 7 Deadline

ABC News Sunday, September 23, 2012 By Michael Warren Argentina’s government on Saturday gave one of its leading media critics, Grupo Clarin, a deadline to sell off most of its broadcast stations, saying Dec. 7 will mark the day when media monopolies will no longer be able to put themselves above the law. Clarin, which… Read more

GEORGETOWN AND HARVARD PROMISE ‘OPEN’ EVENT FOR CFK’S VISIT BUT OFFER FEW DETAILS FOR PARTICIPATION

Tuesday, September 25, 2012 While in the U.S. for the 67th General Assembly of the United Nations, Cristina Kirchner is visiting both Georgetown University and Harvard University to give presentations on the Argentine “Model” in question-and-answer forums. The Georgetown event will take place this Wednesday, September 26th, according to a few news articles such as… Read more

Argentine leader challenges critics in US

Associated Press Monday, September 24, 2012 By Michael Warren BUENOS AIRES, Argentina (AP) — President Cristina Fernandez comes to Wall Street and Washington on Monday with a message for critics who say Argentina is headed for economic disaster by refusing to play by the rules of the global financial system: good riddance to the rules…. Read more

Argentina’s leader says flouting rules is key to success, even as IMF reaches for the red card

Washington Post Monday, September 24, 2012 BUENOS AIRES, Argentina — President Cristina Fernandez is on a US tour this week with a message for critics on Wall Street and in Washington who say Argentina is headed for economic disaster by refusing to play by the rules of the global financial system: good riddance to the… Read more

TIME TO CHANGE COURSE, PRESIDENT KIRCHNER

Kirchner’s scheduled U.S. appearances spark protests in New York, Washington, D.C. and Boston, ATFA Urges President Kirchner to Address Escalating Criticisms From the World Community WASHINGTON, D.C.  (September 26, 2012) — As President Kirchner travels the United States this week to speak at the United Nations and deliver public addresses at Georgetown and Harvard Universities, American Task… Read more

U.S. students grill Argentina Presdient Fernandez in Washington

Reuters Wednesday, September 26, 2012 By Hugh Bronstein BUENOS AIRES, Sept 26 (Reuters) – Georgetown University students in Washington D.C. got to do something on Wednesday that Argentine journalists rarely get to do: grill visiting President Cristina Fernandez on issues like her country’s discredited inflation statistics. Fernandez is a gifted public speaker but she seldom… Read more

Argentina's New Currency Rules Have Backfired Horribly

Business Insider Thursday, September 27, 2012 By William McAllister Cristina Kirchner’s tightening of the rules on currency exchange has backfired horribly, says Buenos Aires resident William McAllister. The scene is a Buenos Aires city-centre side-street. I stand pretending to look in a shop window until I catch the eye of a man loitering in a… Read more

FTSE announces 2012 annual Country Classification Review results

FX-MM Wednesday, September 26, 2012 FTSE Group (“FTSE”), a leading global index provider, has announced the results of its Annual Country Classification Review – 2012. This year, the FTSE Policy Group has not reclassified any countries but has added two further countries to the current Watch List of seven countries being considered for promotion or… Read more

In government-media fight, Argentine journalism suffers

Committee to Protect Journalists Thursday, September 27, 2012 Guillermo Moreno, Argentina’s secretary of domestic commerce and one of the government’s most colorful figures, has been spotted in recent months with a range of striking accessories. In Congress, he was seen handing out traditional Argentine mini-cakes. In a picture taken on a government airplane, a balloon… Read more

Argentine President Talks Politics, Defends Tenure at IOP

The Harvard Crimson Friday, September 28, 2012 By Sagar Desai President Cristina Fernández de Kirchner, the first woman to be elected president of Argentina, faced tough questions from students at the Institute of Politics on Thursday. Delivering her speech in Spanish, Kirchner argued that her administration has largely been a successful one. She noted accomplishments… Read more

According to bondholders, Argentina is having problems with key allies

El Cronista Thursday, September 27, 2012 American Task Force Argentina (ATFA), the group of U.S. bondholders that didn’t adhere to the debt swap and are suing the country, said yesterday that relations between Argentina and its key allies are reaching a tipping point, right at a time when the country “needs injections of foreign investment.” … Read more

Cristina denies that inflation is reaching 25% and put data from the United States in doubt

El Cronista Thursday, September 27, 2012 By Noelia Barral Grigera “If inflation was really 25%, the country would explode.”  From Washington, President Cristina Fernández de Kirchner finally spoke about inflation in Argentina and tried out an emphatic defense of INDEC.  Very relaxed, she said yesterday that “the economic reality” of the country “slams against the… Read more

Defending her 'friend' Chavez and surprising with the statement she speaks 'a lot' with journalists

El Cronista Thursday, September 27, 2012 By N.B.G.-Washington Economic definitions were not the only surprises that came from the visit by President Cristina Fernández de Kirchner to Georgetown University.  In her extensive exchange with the students, the president said that she speak “a lot” with the press and also defended her colleague in Venezuela, Hugo… Read more

Segun bonistas, Argentina tiene problemas con aliados clave

El Cronista Jueves, 27 de septiembre, 2012 La American Task Force Argentina (ATFA), el nucleamiento de bonistas de los EE.UU. que no adhirió al canje de deuda y litiga contra el país, estimó ayer que las relaciones entre la Argentina y sus aliados-clave se encuentran en un punto de inflexión, justo en un momento en… Read more

Cristina negó que la inflación alcance el 25%y puso en duda los datos de Estados Unidos

El Cronista Por Noelia Barral Grigera Jueves, 27 de septiembre, 2012 “Si realmente la inflación fuera del 25%, el país estallaría por los aires.” Desde Washington, la presidenta Cristina Fernández de Kirchner finalmente habló sobre la inflación en la Argentina y ensayó una enfática defensa del Indec. Muy distendida, aseguró ayer que “la realidad económica”… Read more

Argentine President Talks Politics, Defends Tenure at IOP

Harvard Crimson Friday, September 28, 2012 By Sagar Desai President Cristina Fernández de Kirchner, the first woman to be elected president of Argentina, faced tough questions from students at the Institute of Politics on Thursday. Delivering her speech in Spanish, Kirchner argued that her administration has largely been a successful one. She noted accomplishments such… Read more

Tags:

Argentine President Challenges Harvard Questions

Associated Press Friday, September 28, 2012 By Lindsey Anderson In a rare departure from her usual political style, Argentine President Cristina Fernandez responded to questions from an audience at Harvard University Thursday night. But she didn’t always answer them. Fernandez spoke before more than 100 students, faculty and guests at the Kennedy School of Government…. Read more

Tags:

The President distances herself from constitutional reform

La Nacion Friday, September 28, 2012 “It isn’t something that I desire nor that depends on me,” she said; she got angry with students that asked questions without concessions by Silvia Pisani CAMBRIDGE, Massachusetts.- It was, possibly, one of the most uncomfortable days she’s had. Pressured by students of Harvard University who asked about everything,… Read more

Sales to Iran grew 234% since Cristina took office

Clarin Friday, September 28, 2012 In 2007 the country sold US$319 million in goods.  In 2011, it was US$1.068 billion. Politics are on one side.  And business is on the other.  So explains the trade relationship between Argentina and Iran in recent years.  Exports to that destination grew as never before in the period of… Read more

Tags:

Argentina's current problems are 'much worse than those of 2001,' Cavallo

Buenos Aires Herald Saturday, September 29, 2012 Former Economy Minister Domingo Cavallo assured that the country’s current problems are much more serious, because nowadays “people are desperate because they want to preserve the value of their savings and the Government does not allow them to do so”. He also said the cheque tax should only… Read more

Frigate Libertad is held in Ghana over bondholder lawsuit

Clarin Wednesday, October 3, 2012 By Ana Baron The order of the Superior Court of Ghana that yesterday detained the Frigate Libertad in Puerto Tema at the request of the vulture funds is clear.  “The Accused (the Foreign Ministry of Argentina), its officials, agents … including the capital of the Ship, Pablo Lucio Salonica, and… Read more

Tags:

Global economy, Brazil, Argentina seen dragging down LAC 2012 growth to 3.2%

Business News Americas Tuesday, October 2, 2012 By Ulric Rindebro The weak global economy and slower growth in Brazil and Argentina will drag down the average GDP growth rate for Latin America and the Caribbean (LAC) this year to 3.2%, the UN Economic Commission for Latin America and the Caribbean (Eclac) said in a new… Read more

Argentina hoy no está pagando parte de su deuda

El Cronista Miercoles, 3 de octubre de 2012 Por Ignacio Olivera Doll La calificadora de riesgo Moody’s dejó en claro ayer que ve muy probable determinar finalmente una baja para la nota que tiene asignada sobre la deuda de la Argentina – después de haber cambiado su perspectiva a “negativa” la semana pasada – por… Read more

Argentina is not paying part of its debt today

El Cronista Wednesday, October 3, 2012 By Ignacio Olivera Doll The Moody’s ratings agency made it very clear yesterday that it sees it as very likely that it will finally determine a lowering of the rating assigned to Argentina’s debt – after having changed its perspective to “negative” last week – for the continuation of… Read more

Argentine Coast and Border Guards conflict unchanged in its fourth day

MercoPress Friday, October 5, 2012 Protesting outside their main headquarters in Buenos Aires, the “Centinela” and “Guardacostas” buildings representatives said they were waiting a reply to their petition on salaries, working conditions and pension contributions, while there were intense versions of ongoing discussions with the top brass of the two forces to unlock the conflict…. Read more

Argentina: The president and the potbangers

Saturday, September 29, 2012 EVERY Argentine politician knows that clanging pots and pans are the sound of trouble. In 2001, after the government froze bank accounts, furious residents of Buenos Aires staged nightly cacerolazos (pot bangings) until the president resigned. On September 13th it was the turn of Cristina Fernández de Kirchner, the current president,… Read more

Parallels between apartheid and Argentina

Financial Times Sunday, October 7, 2012 By Tony Leon Walking down the tree-lined boulevards in Buenos Aires for the last time after three years as South Africa’s ambassador to Argentina, I noticed the empty display windows in one of its upmarket emporiums. The fashion retailer Louis Vuitton – a favourite of Cristina Fernández de Kirchner,… Read more

The pot-banging protests being organized for November 8 promise more people than on September 13

Perfil Sunday, October 6, 2012 By Gabriel Ziblat They are not politicians, but they’ve entered the political game.  They criticize Cristina, but also the opposition a bit.  They imagine that the November 8 (8N) protest will be more massive than the one of September 13 (13S), but they don’t know what could happen after.  They’ve… Read more

Argentina's Dead Beat Mom

Foreign Policy Thursday, October 4, 2012 By James K. Glassman The fun may soon be over for Cristina Fernández de Kirchner, the president of Argentina with a reputation for reckless populism. Among other antics, she flamboyantly fired the head of the country’s Central Bank and expropriated a majority interest in YPF, Argentina’s largest oil company. Since… Read more

Tens of Thousands of Argentines Use Social Media to Protest President Kirchner's Autocratic Policies

Tuesday, October 9, 2012 Outcry grows against official corruption, rising inflation and deteriorating democratic rights Argentines have been busy… posting comments and organizing online. The surge in online commentary is a testament to its citizens’ robust civil engagement.  It also reflects growing weariness with President Cristina Fernandez de Kirchner’s political agenda (for background, see: “The… Read more

Global editors group raises alarm over Argentina press freedom threat

The Guardian Wednesday, October 10, 2012 By Roy Greenslade Buenos Aires government plans to seize control of leading media group A world-wide group of editors has raised the alarm about a press freedom crisis in Argentina where the government is planning to break up the country’s leading independent media group. The Paris-based Global Editors’ Network… Read more

Argentine bonds fall following “selective default”

Financial Times Tuesday, October 9, 2012 By Jude Webber Cristina Fernández, Argentina’s president (pictured), maintains her government has not “clamped” the dollar, despite imposing a rash of restrictions on greenback purchases in recent months. Try telling that to the northern province of Chaco. It says it was forced to settle a dollar-denominated bond in pesos… Read more

Interest accumulates in the Paris Club (in the board sense)

Ambito Financiero Thursday, October 11, 2012 Tokyo (Special Report) – The negotiations with Argentina’s creditor countries after the 2001 default remain halted. The year 2012 will close without the government having brought a payment proposal to the Paris Club, over the differences that exist in the payment period for those obligations. It came out that… Read more

Labour union demonstration highlights growing challenge for Argentine government

The Wall Street Journal Thursday, October 11, 2012 Labour unions and other civil society groups that oppose the current Argentine government of President Cristina Fernández de Kirchner demonstrated together in a mass anti-government protest in the capital Buenos Aires yesterday (10 October). The protest rally was led by the Argentine Workers’ Confederation (Confederación de Trabajadores… Read more

Global editors warn on ongoing campaign in Argentina against independent media

MercoPress Friday, October 12, 2012 “7 December is a deadline day for press freedom. Media should speak with one voice against this intolerable threat to independent journalism,” said Alejandro Miro Quesada, the Network Board Member from Peru, after a meeting of the GEN board in Buenos Aires. “The attack on Clarin is symbolic of the… Read more

The BCRA’s debt, an unpayable bill (Editorial)

La Nacion October 14, 2012 The national government speaks of “debt reduction”, but what it’s doing is changing creditors, filling up the monetary entity with bonds it’s never going to pay   The President of the Central Bank of the Argentine Republic (BCRA), Mercedes Marcó del Pont, is already known for her extravagant theories.  She’s… Read more

Argentina's sovereign debt: A matter of time

The Economist Sunday, October 14, 2012 WHEN Argentina proposed a brutal 65% haircut to holders of its defaulted sovereign bonds in a 2005 restructuring, one argument the country’s officials used to justify the offer was that the country could not take on more debt than it could reasonably expect to pay. As painful as the… Read more

The Frigate Scandal: the Navy distances itself from the decision to stop in Ghana

Clarin Sunday, October 14, 2012 By Maria Eugenia Duffard Thirteen days since the attachment of the Frigate Libertad in Ghana over a complaint from the so-called vulture funds, the authorities of the Argentine navy denied being responsible for the changes in the route of the trip that allowed the speculative investment funds to advance on… Read more

Navy chief is fired over Frigate crisis

La Nacion Tuesday, October 16, 2012 By Mariana Verón The unusual retention of the Frigate Libertad on the coasts of Ghana collected its first political casualties.  In the midst of ever more bloody internal fighting in the national cabinet, the chief of the Army, Carlos Alberto Paz, left his post yesterday. In his place, President… Read more

Ghana Takes On Argentina

The National Interest Tuesday, October 16, 2012 By J. Peter Pham Last Thursday, a judge in Ghana upheld a court order impounding the legendary three-masted flagship of the Argentine Navy as part of a debt dispute with a commercial creditor of the Latin American country. While Judge Richard Adjei Frimpong’s ruling was limited to the… Read more

Argentina is left without new credits from the World Bank

La Nacion by Florencia Donovan October 18, 2012 The organization will not be taken up this year by the board; the program goes to 2015; it was US$3 billion The international community’s patience with Argentina is beginning to run out. Not only has the International Monetary Fund (IMF), warned that the country has until December… Read more

On maximum alert

La Nacion Thursday, October 18, 2012 By Fernán Saguier Conversation topic number one among editors on the continent: the maximum alert that reigns over what is happening with the independent media in Argentina. A topic on permanent display in the powerful and growing Brazilian press: the many and every day more unmasked forms of constant… Read more

Mike Backs Parliamentary Motion to Veto World Bank Loans to Argentina

Brighton & Hove Conservatives Friday, October 19, 2012 Mike Weatherley, the Conservative Member of Parliament for Hove and Portslade, backs calls to block loans to Argentina, following increasingly aggressive rhetoric against Britain and her sovereignty over the Falkland Islands. Early Day Motion 185 highlights the issue that Britain is providing loans, worth hundreds of millions… Read more

Cristina Fernandez triggers further uncertainty and fears to markets and investors

MercoPress Wednesday, October 24, 2012 The benchmark dropped 3.6% to 2.368.96 at the close of Tuesday trading in Buenos Aires, its steepest decline since November 2011. A bill will be sent to Congress that replaces self- regulation of issuers and brokers with a greater role for the regulatory agency known as CNV. The proposal would… Read more

Argentina Repudiates Obligation to Pay ICSID Costs; Task Force Argentina Makes Payment and the Case Advances

Wednesday, October 24, 2012 View the full text of the Italian Task Force Argentina’s press release regarding Argentina’s “Refusal to pay it’s costs” in English: TFA Comunicato 24 ottobre 2012_eng

Experts: Argentina’s a bad bet for U.S. oil companies

Fuel Fix Wednesday, October 18, 2012 By Jennifer A. Dlouhy Argentina’s renationalized oil company YPF has been courting foreign investors to tap shale gas and crude reserves that could rank as the world’s third largest, but U.S. companies would be wise to shy away from the offers, energy experts advised today. There are just too… Read more

Argentina vows to break up media group

Financial Times Wednesday, October 24, 2012 By Jude Webber The Argentine government says it will forcibly break up Clarín, the country’s biggest media group, and other organisations that fail to present plans by December 7 to bring their holdings into line with an anti-monopoly law. Martín Sabbatella, the official recently appointed to enforce the media… Read more

Cristina Fernandez triggers further uncertainty and fears to markets and investors

MercoPress Wednesday, October 24, 2012 The benchmark dropped 3.6% to 2.368.96 at the close of Tuesday trading in Buenos Aires, its steepest decline since November 2011. A bill will be sent to Congress that replaces self- regulation of issuers and brokers with a greater role for the regulatory agency known as CNV. The proposal would… Read more

An Era of Errors

Buenos Aires Herald Tuesday, October 23, 2012 By a strange quirk of fate, ever since President Cristina Fernández de Kirchner spoke of people only having to fear God and perhaps also her a little, her administration seems to have become more human and accident-prone than ever. Of all this tragicomedy of errors, the plight of… Read more

The bitter harvest of repeated breaches

Clarin Friday, October 26, 2012 By Marcelo Bonelli The attachment of the Frigate Libertad is another chapter in the unresolved story of the debt in default, an issue that also is an obstacle to the country’s access to the international credit market. The international embarrassment generated by the attachment of the Frigate Libertad unveils an… Read more

Moody’s lowers Argentina’s foreign currency bonds’ ceiling to b3 from b2

MercoPress Friday, October 26, 2012 Although the agency acknowledges that the Argentine Central bank currently allows the purchase of foreign currency to service bonds issued according to international Law and payable overseas, the growing restrictions in access to foreign currency for servicing domestic debt makes availability of funds for honouring debt overseas even more uncertain”,… Read more

Argentina, Iran to hold talks in Geneva on 1994 attack

AFP Sunday, October 28, 2012 BUENOS AIRES — Argentine and Iranian representatives will meet in Geneva Monday to discuss a 1994 bombing of a Jewish aid association in Buenos Aires that killed 85 people and injured 300 others, the foreign ministry said Sunday. “It is a working meeting on the AMIA case under terms agreed… Read more

A government distracted by its obsessions

La Nacion Saturday, October 27, 2012 By Francisco Olivera Daniel Scioli’s admirers always describe him with an anecdote of the less transcendent obsessions of their boss.  They say that once, during his years as Kirchner’s vice president and at the point of taking off from Ezeiza, he called his advisor Martin Ferrer, today minister of… Read more

Argentina: Heading for Another Bond Default

The Trumpet Tuesday, October 30, 2012 By Robert Morley Argentina may soon stop paying its debts and stiff its creditors as President Cristina Fernandez de Kirchner tightens her grip on the economy. Already Argentina stands accused of rigging its national inflation number, which allows it to underpay investors in its inflation-linked bonds. In 2001, Argentina… Read more

Downgrade Could Hasten Argentina's Frontier Departure

NASDAQ Wednesday, October 31, 2012 Argentina, South America’s third-largest economy, could see its tenuous grasp on frontier markets status loosen more rapidly after Standard & Poor’s pared the country’s credit rating one notch to B- from B on Tuesday. Following its annual classification review in June, index provider MSCI (NYSE: MSCI ) said Argentina was… Read more

Ousting of police chief highlights Argentina's vulnerability to organized crime

The Christian Science Monitor Friday, November 2, 2012 By Geoffrey Ramsey Evidence of police corruption in northern Argentina illustrates how vulnerable the country is to organized crime, as domestic demand for cocaine rises and the country emerges as a regional trafficking hub, with one of Colombia’s biggest capos captured there this week. The case of… Read more

Argentina Puts Pressure on Media Firm

The Wall Street Journal Tuesday, November 6, 2012 By Taos Turner BUENOS AIRES—President Cristina Kirchner has set the stage for a showdown with Argentina’s biggest media conglomerate, Grupo Clarín SA, in a dispute that some critics warn could undermine free speech. Mrs. Kirchner, who contends Clarín is a coup-mongering monopoly, has given the company until… Read more

The pot-banging protests on 8N arrive at different cities around the world

La Nacion November 9, 2012 Demonstrators concentrated in urban centers like Rome, Paris, Barcelona, Sydney and Rio de Janeiro, among others After Australia came before all the demonstrations of the so-called 8N, groups of Argentine residents in different cities started their pot-banging protest against the government of Cristina Kirchner. In Spain, Italy, France, Great Britain… Read more

Argentines jam capital's streets to vent anger at president over crime, inflation, corruption

Associated Press November 9, 2012 BUENOS AIRES, Argentina – Angry over inflation, crime and corruption, hundreds of thousands of Argentines of all ages flooded the capital’s streets for nearly four hours to protest against President Cristina Fernandez in Argentina’s biggest anti-government demonstration in years. In a Thursday night march organized on social media, demonstrators filled… Read more

A wrong turn in Buenos Aires

Chicago Tribune (Editorial) November 9, 2012 Cry for yourself, Argentina. What a shame to see a country of such great economic promise swerving off the road to prosperity again. The latest in a history of unforced errors began in 2007. National elections ushered in populist President Cristina Fernandez, who has led her nation to the… Read more

Expats Give Cristina "Red Card" at Global #8N Protests

Friday, November 9, 2012 A main symbol of the global protests against President Cristina Kirchner has been the “red card” from soccer or futbol games meaning “throw her out.” IMF Managing Director Christine Lagarde has stated that unless Argentina remedied its faulty inflation data, she would use the red card against Argentina, threatening further sanctions…. Read more

Tags: ,

Energy Investors: Flee Argentina Post Haste

InvestorPlace Tuesday, November 13, 2012 By Aaron Levitt Sometimes in the investing world, the risks outweigh the potential rewards. For energy investors interested in Argentina, “sometimes” is right now. Despite having some of the world’s largest shale resources, the nation remains a hot bed of resource nationalization and anti-competitive business practices. From its April decision… Read more

'Make them go away!' Have Argentinians had enough of Kirchner? (Op- Ed)

RT Monday, November 12, 2012 Argentina has suffered just about every imaginable national crisis: financial and banking collapses, hyperinflation, military coups, defeat in international war, attacks by terrorist guerrillas. We’ve “seen this, done that” becoming pioneers in coping with them all. In 2001/2, during Argentina’s worst financial collapse our people noisily took to the streets… Read more

Argentina Protests: Up To 700,000 March In Frustration At President Cristina Kirchner (PICTURES)

Huffington Post Sunday, November 11, 2012 By Charlie Lindlar Tens thousands of Argentinians took to the streets on Friday in frustration at the state of the country under President Cristina Fernandez de Kirchner. In the country’s capital, Buenos Aires, up to 500,000 people marched peacefully through the streets, protesting about a range of issues -… Read more

Majority of Argentines believe Cristina Fernandez is losing control of government

MercoPress November 5, 2012 “The situation is critical. If the government persists with the decisions implemented so far this could lead to a crisis or at the least the sustained erosion could continue”, said Berenztein during a presentation before the Buenos Aires Chamber of Commerce that contracted him to explain what was going on in… Read more

Reutemann says Scioli will overcome CFK in next election

Buenos Aires Herald November 3, 2012 Senator for the Santa Fe Federal caucus Carlos Reutermann sustained today that he had “put on hold” his presidential aspirations and that he was confident that Buenos Aires province governor Daniel Scioli would be the candidate to succeed President Cristina Fernández de Kirchner in the 2015 election. Reutemann was… Read more

8/11 — what next?

Buenos Aires Herald November 13, 2012 Now that everybody has had a few days to absorb (or not absorb, as the case may be) the impact of last Thursday’s massive pot-banging protest, the question inevitably arises — Where do we go from here? Paradoxically enough, this question becomes harder to answer if we question the… Read more

Argentina: From Bad to Worse

NASDAQ November 13, 2012 More than 300,000 Argentines took to the streets of Buenos Aires recently to protest the administration of President Cristina Fernandez de Kirchner. It was the second major protest in two months against high levels of crime and inflation. The protests have followed a string of blackouts which the current administration has… Read more

Argentina fines electric companies for huge power outage in Buenos Aires

The Washington Post November 13, 2012 BUENOS AIRES, Argentina — Argentina is fining its electricity distribution companies for a power outage that hit most of Argentina’s capital last week. The blackout on Nov. 7 caused severe traffic jams during rush hour, affected more than 800,000 homes and paralyzed the subway system. Officials say power distributors… Read more

CFK and the Argentine street

Buenos Aires Herald November 15, 2012 By James Neilson What support gov’t still has could melt away very quickly Ever since last week’s huge, but remarkably peaceful and, on the whole, good-humoured, demonstrations warned the country’s political establishment that the public mood was changing fast, Cristina and her supporters have been doing their best to… Read more

Argentina's Congress passes controversial legal regulation

EuroNews November 15, 2012 By Guido Nejamkis BUENOS AIRES (Reuters) – Argentina’s Congress approved on Wednesday a new legal regulation that critics say President Cristina Fernandez could use to force a conclusion in her long-running battle with the country’s biggest media group. The regulation, which applies to the use of a legal mechanism called a… Read more

Mother Christmas or Scrooge?

Buenos Aires Herald November 16, 2012 Whatever its motives, President Cristina Fernández de Kirchner’s nationwide broadcast announcement of one-off tax relief for the Christmas bonuses of all salaries grossing under 25,000 pesos (around 98 percent of all pay) will do nothing to head off next Tuesday’s general strike by the anti-government branches of the CGT… Read more

UN labour agency names five countries where ‘serious and urgent’ labour-rights cases need attention

US News Centre November 15, 2012 15 November 2012 – A key rights committee of the United Nations labour agency today identified five countries where it says worker-rights violations – some involving murder – represent the “most serious and urgent cases” among 32 examined at its current meeting. Argentina, Cambodia, Ethiopia, Fiji and Peru were… Read more

El FMI ratificó que en un mes revisará las estadísticas del Indec

El Cronista 16 de noviembre de 2012 El Fondo Monetario Internacional (FMI) ratificó ayer que “el 17 de diciembre próximo” analizará la “calidad de las estadísticas argentinas, en particular los datos de la inflación,” cuestión sobre la que el organismo ya advirtió que podría sacarle una “tarjeta roja” al Gobierno. El vocero adjunto del FMI,… Read more

‘We're witnessing the end of the Kirchnerite era,’ UCR’s Sanz

Buenos Aires Herald November 18, 2012 National Senator Ernesto Sanz (Radical Party) said today that though the massive demonstrations that took the streets on November 8 were “a message for all politicians in general and we can’t deny it”, Argentina “is witnessing the end of the Kirchnerite era.” Furthermore, Sanz explained that on next year’s… Read more

Radical Leftism Fails in Argentina

The Weekly Standard November 19, 2012 By Jaime Dareblum When Argentine president Cristina Kirchner nationalized the Spanish-owned YPF oil company this past April, Washington Post correspondent Juan Forero proclaimed her “the standard-bearer of populist nationalism in Latin America.” At the time, her decision played well at home: One poll found that 62 percent of Argentines… Read more

Argentina Stems Capital Flight in Third Quarter by Blocking Dollar Buying

NASDAQ Monday, November 19, 2012 By Shane Romig BUENOS AIRES–A host of barriers thrown up by the government to block Argentines from buying U.S. dollars was successful in staunching the outflow of capital during the third quarter. After bleeding capital through 2011 and the first half of 2012, there was actually a positive inflow during… Read more

Another Argentina default a risk for investing there

Market Watch Tuesday, November 20, 2012 If a U.S. court decision pushes Argentina to default on its debt (again), it would cause the country’s economy to shrink dramatically, analysts at Bank of America Merrill Lynch said. Mind you, they don’t think a default is the most likely outcome, but unfortunately it’s again possible from the… Read more

Robert Shapiro: "The government failed to honor its promises”

La Nacion Friday, November 23, 2012 By Martín Kanenguiser The co-chairman of the American Task Force Argentina (ATFA), Robert Shapiro, warned that Argentina could fall into crisis in the short term if it doesn’t comply with the ruling that orders it to pay the bondholders in default in December.   In an interview with LA NACION… Read more

Argentina No Longer Deserves to Be a Major Non-NATO Ally of the U.S.

The Heritage Foundation Monday, November 26, 2012 By Luke Coffey In 1998, President Bill Clinton designated Argentina as a Major Non-NATO Ally (MNNA) of the United States—a highly sought-after status that includes exclusive military-to-military cooperation. Today, only 15 countries in the world enjoy MNNA status. However, Argentina under the leadership of Cristina Fernández de Kirchner… Read more

Press Release: Legislation to Hold Argentina Accountable to U.S. Lenders Gains Momentum in House Foreign Affairs Committee

    Legislation to Hold Argentina Accountable to U.S. Lenders Gains Momentum in House Foreign Affairs Committee With renewed support, H.R. 1798, Judgment Evading Foreign States Accountability Act moves to committee mark-up   WASHINGTON, D.C. (November 29, 2012) – Today the House Committee on Foreign Affairs, Subcommittee on the Western Hemisphere, marked up H.R. 1798,… Read more

Shapiro: Decision Time for Argentina

Roll Call Thursday, November 29, 2012 By Robert J. Shapiro Bilateral relations between the United States and Argentina just became a good deal more complicated as legislation that would sanction Argentina for its scofflaw treatment of U.S. investors receives committee markup. Although some have claimed that Buenos Aires welcomed President Barack Obama’s re-election, the reality… Read more

Statement: ATFA Co-Chairs Nancy Soderberg and Robert Shapiro Applaud Subcommittee Approval of Legislation Holding Argentina Accountable

ATFA Co-Chairs Nancy Soderberg and Robert Shapiro Applaud Subcommittee Approval of Legislation Holding Argentina Accountable WASHINGTON, D.C. (November 29, 2012) – Today the House Foreign Affairs Committee’s Subcommittee on the Western Hemisphere passed H.R. 1798, the Judgment Evading Foreign States Accountability Act of 2011 (JEFSA).  The legislation would “prevent foreign states that do business, issue… Read more

President Kirchner's Approval Rating Slips In Argentina

The Wall Street Journal Monday, December 3, 2012 BUENOS AIRES–Argentine President Cristina Kirchner ‘s approval rating fell slightly while her disapproval rating rose by a broader gap last month, according to a poll by Management & Fit published Sunday. Some 30.6% of the people surveyed said they approve of the way Mrs. Kirchner is running… Read more

Press Release: Experts Alarmed By Argentina’s Runaway Inflation and Government’s Faulty Statistics to Try to Hide It

 Consensus at Congressional Briefing Ahead of Dec 17 IMF Deadline for Argentina Washington, D.C. (December 6, 2012) – At an event at the Rayburn Building of the U.S. House of Representatives, experts expressed alarm over steps taken by the Argentine government to hide its runaway inflation, including levying large fines and filing criminal charges against statisticians… Read more

Denunciation in U.S. that INDEC lies

La Nacion Friday, December 7, 2012 By Silvia Pisani WASHINGTON – While the possibility is already near for an eventual “red card” from the International Monetary Fund (IMF), the country’s official inflation statistics were denounced in the American Congress. “The lie with regard to Argentina is something that so jumps out in plain view that… Read more

At Anniversary of Argentina’s Democracy, Kirchnerites Attack Judiciary, Fourth Estate

As the anniversary of the return to democratic rule in 1983 rolled in, President Cristina Kirchner ironically wasted no time railing against Argentina’s Fourth Estate and judiciary.  Not surprisingly, the President was the only speaker at the rally for the Day of Democracy on Sunday night at the Plaza de Mayo.  She used the opportunity… Read more

Argentines May Gain Little from Media Group’s Breakup

Freedom House December 4, 2012 Mark Keller December 7 will mark the death of press freedom in Argentina, if the country’s largest media conglomerate, Grupo Clarín, is to be believed. That date is the deadline by which Clarín must divest many of its assets or see them forcibly auctioned off in accordance with a 2009… Read more

Dealing with Argentina “one of the most painful problems” admits President Mujica

MercoPress News December 5, 2012 It is one of the most difficult and painful problems of my government, dealing with the difficulties presented by Argentina, because above all I must think in the jobs generated so this is not a match to see who’s the toughest in the block”, underlined Mujica during a speech to… Read more

Argentina's Politics of intimidation

UPI December 6, 2012 By Nancy Soderberg WASHINGTON, Dec. 6 (UPI) – Experts from Carnegie Mellon University will join Robert J. Shapiro, my co-chair at the American Task Force Argentina, to brief lawmakers and Obama administration officials on U.S.-Argentine relations with a focus on Argentina’s current standoff with the International Monetary Fund. The briefing comes just… Read more

DISPUTES BETWEEN ARGENTINA, WTO MEMBERS PROGRESS WITH PANEL REQUESTS

The Wall Street Journal December 7, 2012 Trade tensions between Argentina and major World Trade Organization members, including the United States, flared up this week as these members moved ahead in their separate but related challenges stemming from three Argentine import policies. The U.S., the European Union and Japan on Dec. 6 filed their first… Read more

Argentina's Clarin wins ruling to stay intact for now

Reuters December 6, 2012 (Reuters) – An Argentine civil court handed a victory to Clarin media group on Thursday by granting a request by the conglomerate to delay application of a law calling for it to dismantle part of its broadcasting empire. The order came one day ahead of a deadline by which Clarin was ordered to… Read more

Dollar clamp represents the failure of Argentina’s energy policy, says Lavagna

MercoPress News December 10, 2012 There is a ‘dollar clamp’ because the energy policy is probably the greatest failure or the current administration. Until only five years ago Argentina had a surplus in its energy bill and this year we are spending eleven billion dollars to buy power overseas”, said the former minister considered the… Read more

Venezuela, Argentina are sole anomalies in inflation outlook for emerging markets

The Wall Street Journal December 7, 2012 Venezuela and Argentina in 2013 will be the two exceptions to an otherwise low-inflation year for emerging markets, according to a report by Capital Economics. The consultancy forecasts that inflation will average a respective 28% and 25% in Argentina and Venezuela, compared to the 5% rate expected in… Read more

AMIA demands Iran negotiations details

Buenos Aires Herald December 10, 2012 Correa ‘will not apologize’ for Libya comparison last week The head of the Argentine-Jewish Community Centre (AMIA), Guillermo Borger, yesterday warned the government that his organization’s members are “bothered” by the lack of information regarding ongoing negotiations with Iran over the 1994 terrorist attack on the AMIA headquarters, which… Read more

Media Law: Gov't considers impeachment of judges

Buenos Aires Herald December 8, 2012 A Kirchnerite senator warned today that judges who upheld an injunction request made by the media group Clarín on Thursday could be impeached. One day after “7D,” the Kirchnerite Senator Marcelo Fuentes (Victory Front-Neuquén) warned civil appeals court judges Francisco de las Carreras and María Susana Najurieta, that they… Read more

Argentine Executive and Judiciary clash over Media Bill and intimidation of Judges

MercoPress News December 7, 2012 Earlier in the day the Judiciary branch made public an exceptio1nally harsh release asking the Argentine government “to exercise its faculties within the boundaries of the procedural rules and avoid using direct or indirect mechanisms to pressure judges thus affecting their independence”. The communiqué was released in support of the… Read more

IAPA concerned by ‘selective application’ of law

Buenos Aires Herald December 7, 2012 Representatives of the Inter-American Press Association (IAPA) yesterday stated that “the Media Law in Argentina is not at risk, but its apparent selective application is a cause for concern.” The Freedom of Speech Committee, headed by Claudio Paolillo, yesterday stated that meetings had been requested with President Cristina Fernández… Read more

US Court Ruling on Argentina’s Debt Could Have Limited Implications for Sovereign Debt Restructurings

Moody’s Investor Service December 6, 2012 The recent US Appeals Court ruling in the case of NML Capital Ltd. vs. Republic of Argentina upheld the right of holdout creditors to be paid in full, based on the pari passu clause included in bond contracts. In principle, the ruling can have significant implications for the successful… Read more

EU: Challenges Argentina over textile import restrictions.

Just-Style December 12, 2012 By Carmen Paun The Argentine government has rejected a case brought by the European Union (EU) at the World Trade Organisation (WTO) claiming it is imposing unlawful import restrictions on all EU exports, including clothing, textiles and footwear. Speaking to just-style, a diplomat at the Argentine embassy in Brussels said: “The… Read more

Argentina's Kirchner hints at judicial overhaul

Total Telecom December 13, 2012 By Ken Parks Argentine President Cristina Kirchner hinted Wednesday that she might seek to overhaul the judicial system as her administration spars with the courts over the implementation of a controversial media law. Mrs. Kirchner called for the “democratization” of the judiciary, which she described as a powerful, self-serving clique… Read more

Recommendations for a New Administration: Prosperity through Rule of Law and Sound Economics

CSIS  December 11, 2012 By Arturo C. Porzecanski   Latin America and the Caribbean encompass a heterogeneous region. Gross domestic product per capita adjusted for purchasing power ranges from a rockbottom $1,300 per annum in historically mismanaged Haiti to well over $20,000 in the stable and competently administered Caribbean islands of Bahamas and Barbados. The… Read more

How Did The United States Get In The Position Of Supporting The Deadbeats In Argentina?

Manhattan Contrarian December 18, 2012 By Francis Menton In the realm of bad economic policy ideas, the country of Argentina has to rank near the top of almost everyone’s list.  OK, the Soviet Union was worse, but they’re gone.   Cuba, North Korea, Venezuela — there are a few more.  But Argentina was once one of… Read more

Argentina’s official November inflation 0.9%; half the 1.81% congressional index

MercoPress December 15, 2012 The country’s official inflation figures have been widely discredited since 2007 when the professional staff from Indec was replaced by political cronies faithful to the Kirchner couple administrations. Indec said November’s consumer inflation was driven by a 4.7% increase in the price of housing and basic services and a 1.0% rise… Read more

Argentine inflation 25.4% in last twelve months according to private estimates

MercoPress December 14, 2012 As every month lawmakers Ricardo Gil Lavedra, Juan Pedro Tunessi, Paula Bertol, Pablo Tonelli, Patricia Bullrich, Eduardo Amadeo and Carlos Brown, members of the Freedom of Expression committee offered a press conference at the Lower House, where they reported the inflation index, an average from private consultants who are exposed to… Read more

Argentine court supports government on media law

Global Insight December 17, 2012 By Laurence Allan A court in the Argentina capital, Buenos Aires, ruled on Friday (14 December) that two contested clauses in the controversial 2009 Media Law are not unconstitutional. The judgement by Judge Horacio Alfonso prompted the Argentine authorities to indicate that they will today notify Clarin Group, Argentina’s largest… Read more

P&O cruises stops visiting Argentina in Falklands face-off

The Telegraph December 13, 2012 By Steve Keenan and Nick Allen Intimidation by Argentine nationalists has already caused five scheduled cruise stops on the islands by other operators to be scrapped this season, while several planned for next year have also been abandoned. The ships which have cancelled stops include Holland America’s 1,350-passenger MS Veendam,… Read more

‘Argentina’s behaviour’ main obstacle for EU/Mercosur trade talks says Brussels

MercoPress  December 14, 2012 “I can’t understand why they insisted so much in reopening negotiations in 2010 and now some of its members display a behaviour that does not help the negotiations”, said Trade Commissioner Karel De Gucht on Thursday speaking to the press in Geneva “We were forced to go to the World Trade… Read more

Argentina seen resorting to "pesofication" of dollar debt payments if needed

Business News Americas December 13, 2012 Argentina’s federal government could next year resort to paying dollar-denominated debt issued under local law in pesos if its foreign currency reserves fall to “dangerously low levels,” said Capital Economics in a report on the risks related to Argentine debt. Capital Economics estimates that Argentina’s federal government has around… Read more

Adiós, Argüello!

December 20, 2012 Dear Ambassador Argüello, We never met personally, but over the past year we feel like we got to know you well.  For better or worse, you were a consistent fixture in our work. This is why we are somewhat saddened to see you go. We’ve heard you were replaced because your PR… Read more

Press Release: Argentina Continues its Stall Tactics

FOR IMMEDIATE RELEASE December 27, 2012   Argentina Continues Stall Tactics Legal Experts Cast Skeptical Eye on Argentina’s Anticipated Arguments Washington, DC (December 27, 2012) –  A panel of legal experts today expressed skepticism that Argentina’s arguments would prevail in the pari passu litigation, on the eve of the Republic’s latest filing with the U.S…. Read more

ATFA Media Teleconference Transcript: Argentina's Pari Passu Appeal

ATFA Media Teleconference Transcript: Argentina’s Pari Passu Appeal Moderator: Robert Raben December 27, 2012 9:34 am CT     Operator:               Ladies and gentlemen, thank you for standing by. And welcome to the Argentina’s 2nd Circuit Appeal: What to Look for in the Pari Passu Case on the Eve of Argentina’s Filing conference call.   During the presentation… Read more

Change of messenger or message?

Buenos Aires Herald December 19, 2012 Should the abrupt replacement of Argentine Ambassador to Washington Jorge Argüello by the Foreign Ministry’s International Economic Relations Secretary Cecilia Nahón be read as presidential whim, palace intrigue or a deeper strategic shift? Most pundits attribute Argüello’s demotion to a Lisbon posting to a recent clash with Domestic Trade… Read more

Argentina Will Implode Again

The National Interest December 18, 2012 By Sean Goforth Last week, a UN tribunal ordered the release of an Argentine frigate docked in Ghana since October. A group of hedge funds had succeeded in getting a local court to hold the ship as collateral until the Argentine government made good on a $20 million bond…. Read more

“Madame President: pls address inflation and rampant crime” demands Argentine organized labour

MercoPress December 20, 2012 “This is no other than what the International Monetary Fund instructed Argentina at the time. This is an undercover austerity measure. When the IMF outlines the policies of those countries that subordinate themselves, the first thing it does is freeze salaries. And the Government has frozen and even reduced salaries” said… Read more

Imbalance of powers

The Economist December 18, 2012 The holidays seem to inspire belligerence instead of cheer in Cristina Fernández de Kirchner, Argentina’s president. She has spent most of the southern-hemisphere spring battling with her country’s foreign creditors, media companies and trade unions. Now, in a worrying sign for the health of Argentina’s democratic institutions, she has picked… Read more

Lawless at Sea

The Wall Street Journal December 23, 2012 The curious case of the U.S. hedge fund, the Argentine ship and Ghana is getting curiouser, and now it has taken a turn against national sovereignty. That’s the only reasonable conclusion after a bizarre ruling this month from the International Tribunal for the Law of the Sea in… Read more

Argentina among select group with the highest inflation in the last five-year period

MercoPress January 5, 2013 It is a well known fact that the inflation and GDP info released by the Argentine government stats office, Indec are not considered reliable and have been questioned by the IMF and World Bank. Indec has sustainedly reported in the last five years one-digit inflation. The other countries that share the… Read more

The enemy within

The Economist January 5, 2013 TWICE in the past quarter-century mobs of looters have helped to drive Argentine presidents from office. So it looked ominous when thousands of people attacked supermarkets and shops in several cities on December 21st and 22nd. The police restored order, but only after two people died and scores were arrested…. Read more

Argentine government wants to lift court recess to continue battle with Clarin

MercoPress January 3, 2013 The presentation was made by Cabinet Chief Juan Manuel Abal Medina, with the sponsorship of the Treasury’s Prosecutor-General, in addition to the counter-claim filed last week by the Federal Authority of Audiovisual Communication Services (AFSCA). The objective of the move is to ensure the prompt resolution of the suit presented by… Read more

Argentine Peso Falls to Record in Parallel Market, Clarin Says

Bloomberg January 3, 2013 By Camila Russo Argentina’s peso weakened in the parallel market to a record 7 per dollar today as demand for the U.S. currency from people traveling abroad increased over the holidays, the newspaper Clarin reported on its website without saying how it obtained the information. The parallel peso was trading at… Read more

Argentina Supreme Court rebuffs govt plea for swift ruling in Clarin dispute

Total Telecom January 2, 2013 By Ken Parks, Dow Jones Newswires Argentina’s President Cristina Kirchner on Thursday suffered a major setback in her legal battle with media empire Grupo Clarin SA after the Supreme Court turned down the government’s request to rule on the constitutionality of a media law that has broad implications for press… Read more

Press Release: Legal Experts Say Second Circuit Initial Pari Passu Ruling Remains Intact

FOR IMMEDIATE RELEASE                                  media@atfa.org January 9, 2013                                                            888-662-2382 Legal Experts… Read more

ATFA Media Teleconference Transcript: Legal Experts Say Second Circuit Initial Pari Passu Ruling Remains Intact

ATFA Media Teleconference Transcript: Legal Experts Say Second Circuit Initial Pari Passu Ruling Remains Intact Moderator: Robert Raben January 8, 2013 11:01 am CT     Operator:               Ladies and gentlemen thank you for standing by. Welcome to the Argentina and the U.S. Court of Appeals conference call. During the presentation, all participants will be in… Read more

The IMF will evaluate Argentina’s statistics in two weeks

La Nacion January 18, 2013 By Silvia Pisani WASHINGTON.- The delays have ended.  The critical evaluation of the statistics that the INDEC puts out which the International Monetary Fund (IMF) has been announcing finally has a set date: on Friday, February 1, with the warning of a sanction for the country over the lack of… Read more

Holdout move: Argentine retirees will testify against the country in New York

El Cronista January 24, 2013 By Laura Garcia It almost sounds like group therapy.  While the invite speaks of a lobbying strategy that has nothing to do with emotional disturbance.  One month before the hearing that will decide the fate of Argentina in its battle with the holdouts, a group of retirees that didn’t participate… Read more

Argentina’s Fudged Data Threaten Middle Class

Bloomberg January 23, 2013 By Lawrence Goodman Economists dub the challenge of creating analysis with faulty data “GIGO,” or “garbage in, garbage out.” Fudged statistics may seem relatively innocuous within the context of problems confronting the global economy. However, faulty data can thrust millions into poverty and prevent others from reaching the middle class. John… Read more

Argentina and the courts: The sky will not fall

The National Law Journal January 23, 2013 By Richard Samp The Chicken Littles are out in force. The U.S. Court of Appeals for the Second Circuit’s ruling in NML v. Argentina has caused an outcry. Some have suggested that the decision will impede efforts to restructure sovereign debt in Europe and elsewhere. Others argue it… Read more

Argentina to withdraw from ICSID

PressTV January 24, 2013 This follows similar decisions by several other countries in Latin America like Bolivia, Ecuador and Venezuela, Eduardo Barcesat, the chief legal advisor to Argentine’s Treasury, is working on this project. He says I-C-S-I-D is quote “a tribunal of butchers” that only rules in favor of multinational companies. Barcesat believes quitting the… Read more

Macri says he 'has what it takes' to run for president in 2015

Buenos Aires Herald January 22, 2013 City Mayor Mauricio Macri once again assured he would not be running for a congressional seat in the midterm elections this year, and stated that he believes “he has what it takes” to run for president in 2015. Macri praised his campaign staff, which he says will help him… Read more

The government wants to leave ICSID to avoid a new battle with the creditors

El Cronista January 25, 2013 By Carlos Arbia At the summit of the Community of Latin American and Caribbean States (CELAC) and the European Union (EU), which is being held this weekend in Chile, the countries making up the South American block of UNASUR will seek to stop being subject to the decisions of the… Read more

New York: the holdouts will receive the support of Argentine retirees

Infobae January 24, 2013 One month from the hearing in the appellate court, a group of 14 Argentines and one Uruguayan, which also have bonds that didn’t enter the exchange, will testify against Argentina.  They were accepted as “friends” of the plaintiffs. In addition to the so-called “vulture funds”, there is a group of citizens… Read more

ATFA Press Release: PENSIONERS GATHER IN NEW YORK TO DECRY ARGENTINA'S FAILURE TO PAY DEBT OBLIGATIONS TO HOLDOUTS

  PENSIONERS GATHER IN NEW YORK TO DECRY ARGENTINA’S FAILURE TO PAY DEBT OBLIGATIONS TO HOLDOUTS Life Savings Wiped Out by Regime’s Broken Promises (New York, N.Y.) – January 29, 2013 – Seeking what they are owed, fifteen Argentine pensioners gathered in New York City today in a visit organized by the American Task Force… Read more

Holdout creditors on New York trip bemoan treatment by Argentina

Reuters January 29, 2013 Jan 29 (Reuters) – A group of Argentine investors who refused to take part in their country’s debt restructurings spoke in New York on Tuesday about how they feel betrayed and mistreated by their government, which is fighting U.S. court orders to pay the holdouts. Argentina defaulted on $100 billion of foreign… Read more

Argentine pensioners: we are not vultures!

Financial Times January 29, 2013 By Jude Webber Eva Geller’ parents, Holocaust survivors from Germany and Austria, always taught her that two things were important in life: education and savings. “Every penny I got from my grandparents, I put in my piggy bank. I saved all my life,” said Geller, who was born in Uruguay… Read more

PRESS RELEASE: American Task Force Argentina and Freedom House Host Capitol Hill Briefing with Argentine Pensioners on Erosion of Civil Liberties in Argentina

American Task Force Argentina and Freedom House Host Capitol Hill Briefing with Argentine Pensioners on Erosion of Civil Liberties in Argentina Growing Concern Over President Cristina Kirchner’s Censorship and Intimidation Tactics Washington, DC (January 31, 2013) –  Congressional lawmakers, civil rights supporters and individual holdout bondholdersjoined American Task Force Argentina and Freedom House on Capitol… Read more

IMF Censures Argentina for Not Sharing Accurate Economy Data

Bloomberg February 1, 2013 By Ian Katz The International Monetary Fund said it censured Argentina for not providing accurate data on inflation and economic growth under a procedure that can end in expulsion. For full text of this article, visit http://www.bloomberg.com/news/2013-02-01/imf-censures-argentina-for-not-sharing-accurate-economy-data.html

IMF Censure of Argentina Cements Investor Outcast Status

Bloomberg February 3, 2013 By Joshua Goodman and Ian Katz The International Monetary Fund’s historic rebuke of Argentina is likely to cement its outcast status among global investors while failing to persuade the government to boost the credibility of its economic data. Argentina on Feb. 1 became the first nation to be censured by the IMF after… Read more

The IAPA accuses the government of seeking the “economic suffocation” of the newspapers

La Nacion February 10, 2013 The Inter-American Press Association (IAPA) yesterday rejected in a strong statement the decision by the government of Cristina Kirchner to prohibit private advertisers to publish publicity in the press: it finds it to be an attack on freedom of expression, which seeks “the economic suffocation of the independent media.” “The… Read more

Argentina Continues Its Defiance of Ghana in the Courts

The Africa Report February 12, 2013 By Franklin Cudjoe On October 2, 2012 Ghana’s High Court made a courageous – and correct – decision: It determined that the ARA Libertad, a ship owned by the Republic of Argentina, was not entitled to immunity and should be detained to satisfy judgements against Argentina. In doing so, Justice Richard… Read more

Argentina's Government Has Imposed A Bizarre Ban On Advertising

Business Insider February 11, 2013 By Jim Edwards In an attempt to curb runaway inflation that threatens to get Argentina kicked out of the International Monetary Fund, the government has imposed a bizarre, unofficial ban on advertising, businesses and publishers have told the Wall Street Journal and The Associated Press. Inflation in Argentina is likely… Read more

Argentina’s price freeze now hits opposition newspapers with supermarket advertising ban

The Washington Post (AP) February 8, 2013 BUENOS AIRES, Argentina — Argentina’s newspapers say supermarket and appliance companies have been told to stop advertising during a price freeze the government imposed to stem inflation. The government denies this: Consumer protection official Maria Colombo calls it “an invention” of the daily newspaper Clarin. To view full… Read more

Motion of censure

The Economist February 8, 2013 THE IMF has taken years to pluck up the courage to censure Argentina’s blatantly inaccurate inflation statistics, but it did so at last on February 1st. The official reprimand gives the government of President Cristina Fernández until September 29th to take “remedial measures” to comply with the fund’s rules on… Read more

GHEI: Argentina’s wishful thinking

The Washington Times February 8, 2013 By Nita Ghei Supermarkets in Argentina can’t raise prices over the next two months. This is the government’s latest idea for bringing rising inflation under control, but it’s based on tired, old notions that have always failed in the past. The South American country’s dalliance with price controls follows… Read more

Foreign Minister Héctor Timerman assured today that the Malvinas sovereignty debate “is not just another case of colonialism but a situation that tests the entire international justice system.” The statement was made during the opening of the first meeting organized with the 18 European groups that promote the dialogue between Argentina and the United Kingdom.

La Nacion (Reprint: Corriere della Sera) February 5, 2013 By Rocco Cotroneo We know candidates all lie at election time. And so many governors tell lies both during and after the exercise of their functions. But then there is the case of Argentina, where exaggeration, omission and a range of lies have become an affair… Read more

In Italy they are talking about Argentina’s “creative” lies

La Nacion February 5, 2013 By  Elisabetta Piqué ROME.- “The ‘creative’ lies of the Argentine friends: Maradona, Kirchner and false statistics.” This was the heading of the cover page article in the daily Corriere della Sera, which on the basis of the motion of censure issued by the IMF to Argentina a few days ago,… Read more

Strong criticism from the U.S. over import restrictions

Clarin February 5, 2013 The U.S. assistant secretary for International Commerce, Francisco Sanchez, yesterday criticized Argentina’s trade policies: he said that they could become a true boomerang for the country.  According to Sanchez, the restrictions on imports discourage investment in Argentina and push companies to leave the country. “I have a great concern for Argentina,”… Read more

PRESS RELEASE: ATFA Applauds UK Government's Decision to Oppose Future Lending to Argentina

FOR IMMEDIATE RELEASE                                  media@atfa.org February 13, 2013                                                          888-662-2382 ATFA Applauds UK… Read more

Great Britain asks that international loans for Argentina be blocked

El Cronista February 14, 2013 By Esteban Rafele and Juan Cerruti The United Kingdom will vote against granting new loans to Argentina in the World Bank and the Inter-American Development Bank (IADB).  According to official information, the decision is due to a lack of payment on contrary sentences in the International Center for the Settlement… Read more

The sanction from the IMF for Argentina’s lie (Editorial)

La Nacion Tuesday, February 19, 2013 For the first time in its history, the International Monetary Fund (IMF) has issued a motion of censure toward one of its member countries.  Regrettably, this sad privilege of inaugurating that sentence has been ours.  The sanction comes after Argentina did not honor Article VIII of the organization’s bylaws. … Read more

ATFA Media Teleconference: What's Next After Oral Arguments in NML v. Republic of Argentina?

REQUEST FOR COVERAGE  Media Teleconference: What’s Next After Oral Arguments in NML v. Republic of Argentina? Legal experts game-out procedural next steps as landmark pari passu case approaches closure WASHINGTON–On the eve of oral arguments in the case of NML v. Republic of Argentina before the US Court of Appeals for the Second Circuit, American… Read more

Argentina’s farmers: underappreciated?

Financial Times February 21, 2013 By Jude Webber Argentina has an impressive ability, it seems, to bite the hand that feeds it: farming. It’s an impression reinforced by Rabobank’s latest Argentine agribusiness outlook. Argentina’s farming sector, which makes up nearly 60 per cent of total exports ($47bn in 2012, and that was a bad year… Read more

Sizzling prices heat up wage talks in Argentina

Reuters February 22, 2013 By Guido Nejamkis (Reuters) – A stagnant economy and one of the world’s highest inflation rates are making Argentina’s annual wage talks thornier than ever this year just as President Cristina Fernandez turns her attention to mid-term elections. Fernandez, who hails from the left of the Peronist party that has dominated… Read more

Argentina: lies, damned lies and statistics

Financial Times February 22, 2013 By Jude Webber Argentina’s debt management is going to be firmly in the spotlight next Wednesday, when it squares off against so-called “vulture funds” in a New York appeals court in the pari passu case that, in the worst-case scenario, could spell a fresh default. That’s a story for another day. But while we’re… Read more

Dressing in Black, a Year after the ‘Once’ Train Tragedy

The Argentine Post February 23, 2013 A year after Argentina commemorated the first anniversary of the tragic train crash that killed 51 people and injured 600 others, President Cristina Kirchner continues to dress in black. Yet it is noteworthy that on this anniversary the president dressed in black not to mourn the country’s loss but… Read more

Ninety consecutive months of two-digit inflation in Argentina

MercoPress February 28, 2013 In the 500% index, we have food and beverage that ballooned 1000%. The 500% is an average of food prices and frozen public utilities rates (power, gas, water)”, said Melconian who is running for office in the coming October mid term election for an opposition grouping. “What I am saying is… Read more

U.S. warns about the progress of laundering in Argentina

La Nacion Wednesday, March 6, 2013 By Silvia Pisani WASHINGTON.- A new document from the State Department placed Argentina yesterday among the region’s countries where money is laundered and warned that control of those operations has been undermined by an “expansion” of a parallel market for currency, fed by those who seek “refuge against inflation”… Read more

Pending decisions

El Cronista Wednesday, March 6, 2013 By Ariel Alberto Neuman More than 20 arbitrations before the ICSID, a couple dozen complaints before the WTO, a complaint from the Paris Club, another from holdouts in New York, some questions inside of Mercosur and a handful of processes under the rules of UNCITRAL make up the picture… Read more

The risk of flirting with a new default (Editorial)

La Nacion Friday, March 8, 2013 Argentina could approach a new default on sovereign debt.  It would not be the first time that it has occurred: our country already went through that situation in the years 1828, 1890, 1982, 1989 and 2001. Also in the Kirchnerist era, in 2007, when a selective default was imposed… Read more

Moment of truth for Argentina: the fulfillment of contracts under a rule of law has no borders

Infolatam March 11, 2013 By Claudio Loser Even though the political attention in Argentina moved to the dramatick demise of Chávez , the Economic  stopwatch does not stop.  The final stretch seems to be defined in terms of the judicial procedure of the Court of Appeals of New York State with respect to the payment… Read more

Mission to Panama to avoid blocking of credits from the IADB

Ambito Financiero March 13, 2013 By Carlos Burgueno Hernán Lorenzino will travel tomorrow to Panama to participate in the annual meeting of the Inter-American Development Bank (IADB) with a concrete mission: the keep open the source of financing from that entity, despite the negative vote of the United States and the rest of the developed… Read more

The United States confirms its concern about the advertising clamp

Clarin March 14, 2013 By Ana Baron The U.S. Department of State doesn’t usually officially take a position without first having carefully studied the issue in question.  For that, it’s significant that the response from U.S. diplomacy given yesterday in writing to a question from Clarin about the boycott of advertising in non-pro-government newspapers speaks… Read more

Iran: letter from the U.S. to Cristina

Clarin March 14, 2013 By Ana Baron Two U.S. senators, New York Democrat Kirsten Gillibrand and Illinois Republican Mark Kirk, urged Argentine President Cristina Kirchner to review her decision to “re-investigate” the bombing of the AMIA in 1994. In a letter sent to Cristina, which was delivered to the Argentine ambassador in Washington, Cecilia Nahon,… Read more

Media Teleconference: The End Game: NML v. Republic of Argentina

Media Teleconference: The End Game: NML v. Republic of Argentina Court demands Argentina payment plan by March 29 — legal experts discuss likely scenarios in landmark pari passu case  WASHINGTON–In the end-game of the landmark NML v. Republic of Argentina case before the US Court of Appeals for the Second Circuit, American Task Force Argentina’s… Read more

The ‘blue’ soars to 8.75 and measures are being prepared to halt the parallel dollar

El Cronista March 21, 2013 By Juean Cerruti and Carlos Arbia It wasn’t on the agenda.  But the situation in the currency markets obliged President Cristina Fernandez de Kirchner to convene a meeting yesterday urgently at Olivos with the full economic team.  An unprecedented event for her term in office, as she usually doesn’t like… Read more

The wrong medicine

La Nacion Friday, March 22, 2013 By Jorge Oviedo President Cristina Kirchner admitted yesterday that there are problems in some sectors with production, re-supply and prices.  She didn’t mention the dollar.  She blamed companies for wanting to profit without producing more and warned that there could be selective openings of imports to contain prices.  It’s… Read more

U.S. complaint over freedom of expression

La Nacion March 22, 2013 By Silvia Pisani WASHINGTON.- The United States government yesterday ratified to Foreign Minister Hector Timerman the need to preserve freedom of expression as an essential part of the democratic climate. The message was transmitted by Assistant Secretary of State William Burns in a meeting alone with Timerman in his office,… Read more

Timerman brings report to Washington about the Iran accord

Clarin March 22, 2013 By Ana Baron When Foreign Minister Hector Timerman entered yesterday into the office of the number two man at the State Department, William Burns, introductions weren’t necessary. Both officials know each other.  Timerman received Burns in Argentina in December 2010.  Since then, there have been a couple more bilateral contacts, but… Read more

Claudio Loser: “A currency rate split is a possible solution, but not a perfect one”

El Cronista March 25, 2013 By Dolores Olveira Economist Claudio Loser said that the splitting of the currency exchange market is an “intermediate solution, not perfect, but possible” for the distortions that the parallel dollar is creating. Also, the ex-IMF official and director of Centennial-Group Latin America anticipated that if Argentina doesn’t improve the conditions… Read more

Kirchner Trade Policies Continue to Produce Isolation, Misery “Tax, Restrict, Repel”

March 28, 2013 President Cristina Kirchner’s economic policies continue to produce dividends of misery for the Argentine people.  Thanks to a trade philosophy that might be called, “tax, restrict, repel,” Kirchner’s campaign to isolate the Argentine people from the rest of the world – and from the regular staples they enjoy – has achieved new… Read more

Guest post: why Argentina’s behaviour must not be allowed to stand

Financial Times April 2, 2013 By Hans Humes and Diego Ferro of Greylock Capital Management A decade-long battle stemming from Argentina’s epic 2001 default has reached a critical stage. Courts recently required Argentina to uphold a promise in its bond contract to rank its debts equally, following years of orchestrated repudiation. The so-called pari passu case in… Read more

Clarin: In Washington there is ‘disenchantment’ with Argentina’s policies

Clarin April 3, 2013 By Armando Pérez Washington. Special Report Argentina’s reputation as a secure destination for investments and a politically and economically rational state is at its lowest level in much time among U.S. investors and observers.  So was made known to members of the chamber of commerce and experts in economy who yesterday… Read more

The Bottom Line Question: At What Price?

By Horacio Vázquez, holdout bondholder, Buenos Aires April 4, 2013 In early February, I was interviewed by CNN, Dinero to discuss a briefing I had conducted with members of the international news media along with several dozen Argentine holdout bondholders, who had travelled to New York to tell our story. In my remarks to reporters,… Read more

La pregunta clave: a qué precio?

Para Horacio Vázquez Bonista argentino discriminado 8 de abril de 2013 A principios de febrero de este año fui entrevistado por la CNN respecto del reclamo que hicimos los bonistas argentinos que dimos la conferencia de prensa de Enero en el Hotel Warwick de NY. En dicho reportaje terminé diciendo que la verdadera pregunta (bottom… Read more

“If the CPI is not corrected, up to US$3 billion will be lost”

Ambito Financiero April 8, 2013 Two influential economists consulted by this newspaper gave their view about relevant issues for Argentina today.  The man who was Western Hemisphere Director for the IMF, Claudio Loser, warned about the possible consequences of not correcting the measures of the INDEC.  Remember that the IMF has been demanding that the… Read more

‘Abandoned’ financing delayed projects

Perfil US$1.3 billion in international credits for education, infrastructure and reforms that were not used up to now   Sunday, April 7, 2013 By Patricia Valli With limited international financing, Argentina came to accumulate 13 “abandoned” projects in the World Bank for a total of US$1.3 billion, while some were again presented in other formats… Read more

Argentina’s shameful pact with Iran

The Miami Herald March 3, 2013 In a shocking vote over the weekend, lawmakers in Argentina approved President Cristina Fernández de Kirchner’s delusional decision to strike a deal with Iran to investigate the 1994 bombing of a Jewish community center in Buenos Aires that killed 85 people, an action for which Argentina’s own investigators blame… Read more

Argentina goes down a dangerous path

The Miami Herald  March 7, 2013 By Douglas Farah In 2001, Argentina underwent a catastrophic economic meltdown, the result of brutal and incompetent military dictatorships, ill-conceived economic policies, and massive corruption. The result: default on $100 billion in sovereign bonds and international pariah status. In recent years South America’s second largest country had begun to… Read more

Overwhelming support for Mujica’s comments on Cristina and Nestor Kirchner

MercoPress April 10, 2013 The poll showed not only that a majority support Mujica’s comments but also believe that President Cristina Fernandez makes ‘political use’ of the figure of her late husband and former president Nestor Kirchner. Pollster Teresa Herrera & Associates did the survey referred to the incident last Saturday involving Mujica in a… Read more

Argentina Freezes Gas Prices for 6 Months in Bid to Cap Inflation

Dow Jones Newswires April 10, 2013 Argentina has frozen gasoline prices for six months in another bid to tame the rampant inflation plaguing the economy and biting into the government’s support in the run-up to midterm congressional elections in November. Prices at the pump will be locked in at April 9 values for six months,… Read more

Blog Post: Argentina Freezes Gas Prices at One Year Anniversary of YPF Nationalization

April 10, 2013 President Cristina Kirchner has frozen gasoline prices for six months to tame the country’s rampant inflation and bolster political support in upcoming midterm congressional elections in November, according to Dow Jones Newswires. The energy sector is the latest one to face top-down Soviet-style price freezes (last month supermarket chains were also forced to… Read more

Moody's: Holdout creditors have not been an obstacle to sovereign debt restructurings

Moody’s April 10, 2013 New York, April 10, 2013 — Sovereign bond restructurings over the last 15 years have generally been resolved quickly and almost always without ligation from holdout creditors, says Moody’s Investors Service in a new report in its Sovereign Defaults Series. Reviewing 34 sovereign bond exchanges since 1997, Moody’s finds that only… Read more

Argentina vs. holdouts: Moody’s minimizes impact of litigation with vultures and recalls that the swap was unilateral and coercive

El Cronistsa April 11, 2013 By Mariana Shaalo The risk ratings agency Moody’s asserted yesterday in a report that the Argentine debt restructuring was a unique case in the last 15 years for its “unilateral” and “coercive” character. In this manner, it minimized the argument from the Argentine government that argues that an unfavorable sentence… Read more

Strong criticism of the country in the U.S. Congress

La Nacion April 12, 2013 By Silvia Pisani WASHINGTON.- Energy policy, and in particular the expropriation of the Spanish stake in YPF, were the examples with which Democratic and Republican legislators, as well as officials from the State Department, warned in strong terms about the “difficulties” and “risks” of investing in Argentina.  They also echoes… Read more

SUMMIT TV: Argentina’s incredible ‘shrinking’ economy

Business Day April 12, 2013 TONY Leon is former leader of the Democratic Alliance (DA) and a former ambassador of South Africa to Argentina. His new book explores whether there is life after politics and what’s in store for South Africa. SUMMIT TV: You have been busy since leaving as the head of Democratic Alliance… Read more

Gaucho blues

The Economist April 13, 2013 FOR several years Argentina’s government has pretended that inflation is between a half and a third of its true rate. But the pretence is wearing thin. Nowhere is that clearer than in the foreign-exchange market. Last month Cristina Fernández, the president, called an emergency meeting of her economic advisers after… Read more

In the U.S., they see Argentina with only a bleak future

La Nacion April 15, 2013 By Jorge Rosales WASHINGTON.- Few things generate consensus these days in the capital of the United States, divided by the impact of the cuts that must be made by President Barack Obama, like the diagnosis of the uncertainty and lack of confidence that is projected for the future of Argentina…. Read more

A Brazilian magazine mocks Cristina

La Nacion April 16, 2013 Caption: The “Pinocchio economy” as Veja called Argentina’s statistics A few days before the meeting of presidents Cristina Kirchner and Dilma Rousseff in Buenos Aires, which will take place on the 25th of this month, and while asymmetries remain in trade with Brazil, a stir has been caused among industrialists… Read more

IMF; the economy has halted due to controls on exchange and imports

Clarin April 17, 2013 By Ana Baron The IMF estimated that Argentina will grow 2.8% this year. And it calculated 3.5% for 2014. While inflation will be 9-.8% and 10.1% respectively. However, the world economic outlook report published yesterday in Washington explains that these figures are based on statistics provided officially by the Argentine government… Read more

Corruption: the tip of one of many icebergs (Editorial)

La Nacion April 17, 2013 Argentine society has been shaken by this new Kirchner corruption scandal which reveals hitherto unknown aspects of a vast network of corruption linked to public works contracts and dirty money laundering which has been operating with total impunity and which appears to involve the businessman from Santa Cruz, Lázaro Báez,… Read more

U.S. demands solving the issue of the pending debt

La Nacion April 18, 2013 WASHINGTON (From our correspondent) – The government of Barack Obama argued yesterday that with Argentina there are “various issues” pending about which both governments must work, among them, he referred to the issue of the public “debt” and the payments pending to creditors. The statement came from Secretary of State… Read more

Argentina, Where Dollars Are the New Drugs

The American Interest April 16, 2013 By Walter Russell Mead Argentines are desperate to gain access to the US dollar, the WSJ reports. Cuevas (caves) where residents can exchange pesos for dollars at black-market rates are flourishing, and people are trying all sorts of tricks to profit off of an economy in crisis. Why is… Read more

Cristina, weak and overwhelmed

La Nacion April 19, 2013 By Fernando Laborda The government of Cristina Kirchner has been enveloped in a situation of fragility, even when it is closer than ever to reaching the summit of political power.  Not only has she lost control of the street, which Nestor Kirchner was spotless with, and has revived the fall… Read more

Argentina's Defiance

Huffington Post April 22, 2013 By Robert Raben The U.S. Supreme Court must soon decide whether to review a series of lower-court decisions against the Republic of Argentina, and it has begun to ask the Obama administration for its views. As a former assistant attorney general, I am familiar with the struggles and the balancing… Read more

U.S. follows “with attention” the offensive against the judicial branch

La Nacion April 26, 2013 By Silvia Pisani WASHINGTON.- The United States government “is following very attentively” the attempts that in the region is pointing to an advance by the executive branch of the government upon the administration of justice. The definition of the government of Barack Obama ran by the account of State Department… Read more

Lorenzino, in trouble over INDEC data

La Nacion April 26, 2013 By Martin Kanenguiser The manipulation of public statistics applied since 2008 by the government generated a strong headache yesterday for Economy Minister Hernan Lorenzino.  One day after it was broadcast in Greece – which is living through a profound crisis – the television report was heard about in Buenos Aires,… Read more

Argentine Capital Flight Accelerates

May 1, 2013 Looking for an accurate economic forecast for a particular geographic region?  You need look no further than at the companies unwilling to continue doing business within it; no more current – or reliable – economic barometer exists…and Argentina’s continues to burst with bad news.   The Kirchner regime’s international pariah status – earned… Read more

Ties with Brazil, tense over the “chavization” of Cristina

Clarin May 3, 2013 By Marcelo Bonelli Brazil decided to distance itself from the Casa Rosada and relations between the presidents froze after the last meeting between Dilma and Cristina. The President of Brazil returned to her country slamming the door behind her, when she confirmed that none of the political promises from Cristina Kirchner… Read more

Argentina's Black Market Peso Weakens on Currency Reports

Wall Street Journal May 2, 2013 BUENOS AIRES–Argentina’s black market peso weakened abruptly again Thursday after local media reported that the government is pressuring banks to curb their customers’ capacity to withdraw cash while overseas. The reports, which couldn’t be confirmed immediately with the banks, indicated that banks will let people withdraw less cash from… Read more

Stiglitz warns about the risks of not having adequate statistics

La Nacion May 4, 2013 By Rafael Mathus Ruiz NEW YORK.- Without adequate statistics one cannot manage the economy.  That principle, indisputable on almost all sides, was the core of a chat by Nobel laureate in economics Joseph Stiglitz with Argentine reporters during a conference about freedom of the press at Columbia University. “The economy… Read more

Criticism for restrictions on the press in a U.S. seminar

Clarin May 4, 2013 By Ana Baron The publicity clamp and the economic strangulation of the Argentine independent media.  The use of official publicity to compensate friendly media and punish enemies.  The media law against private groups while the monopoly of state media is consolidating.  These were, among others, the issues that came from a… Read more

Ex CB head Pignanelli calls for way out to 'blue' dollar problem

Buenos Aires Herald May 7, 2013 Ex Central Bank head Aldo Pignanelli urged the government to crack down on inflation and “blue” dollar skyrocketing trends and demanded an adjustment plan as he forecasted a troubled economic scenario. “A comprehensive program must be done to settle the dollar problema. The government must seek a macroeconomic plan… Read more

It’s a promise: no devaluation for Argentina, says Cristina Fernández

Financial Times May 7, 2013 By Ian Mount The words certainly sound familiar. But not in a good way. In a nationally televised address on Monday evening, Argentine President Cristina Fernández de Kirchner vowed not to devalue the peso while she was in office, because to do so would hurt the poor and the middle… Read more

Do you trust this Lady to look after your dollar savings?

MercoPress May 9, 2013 Former Central Bank Governor Alfonso Prat Gay said the government of President Cristina Fernandez with the tax amnesty is trying to stop the leak of treasury reserves and making fools of those good citizens that comply with the law and pay taxes. “The national government has just given another sign of… Read more

Lie to Me

International Herald Tribune May 8, 2013 By Daniel Politi BUENOS AIRES — How much inflation is there? Who can buy dollars legally? Who really runs the economy? All are simple questions, but in Argentina they can be major puzzles. Lately they’ve tripped up even some top officials who are otherwise well-trained at giving shifty answers… Read more

Blog: The Unrelenting Hypocrisy of Cristina Kirchner

May 10, 2013 The irony cannot be lost that President Kirchner demands justice (for herself!) in foreign courts, but has made it a matter of her nation’s global strategy to flout the rule of law in international courts and to undermine the independence of her own judiciary. Case in point, in early May, Cristina Fernandez… Read more

Seeking to change the blue for the “Cristina dollar”

La Nacion May 13, 2013 By Jorge Oviedo The government plans to end the currency exchange crisis with an experiment that it will be perfecting: nobody can handle dollars, except for the state.  It’s the dictatorial formula that Malaysia applied, which has followers in Argentina and that was even once recommended by economists of Plan… Read more

Argentina faces very different debt default if loses legal fight

Reuteres May 13, 2013 By Hilary Burke (Reuters) – When Argentina defaulted on its debt in 2002, the economy was collapsing and a bloody popular revolt had helped topple two presidents in a week. Now, the country could default again, but it would be over a matter of principle rather than necessity. After a decade… Read more

Argentina’s grand plan to recover US dollars is about as worthless as its own currency

Quartz May 13, 2013 By Roberto Ferdman While hustlers in Buenos Aires secretly buy dollars on the street, the Argentine government is openly begging for greenbacks. Fears of Argentina once again defaulting on its debt have sent the country into a dollar-hoarding frenzy, and government restrictions on the amount of US dollars locals are allowed… Read more

Argentina would be “allied” with those who launder money

MDZ Radio (Mendoza) Online May 14, 2013 Claudio Loser, ex-director of the IMF and founding partner of Centennial Group Latin America, characterized as “weak” the economic team made up of Hernan Lorenzino, Axel Kicillof and Guillermo Moreno.  The economist called the recent announced measures “desperate.” “Argentina seems to be an ally of those that launder… Read more

The mafia pact begins to crack

La Nacion May 16, 2013 By Carlos Pagini Corruption has become one of the principal causes of social unrest in Argentina. The current explanation is that the economy has ceased to offer pleasant prospects. Hence, the part of public opinion which had shown the greatest threshold of tolerance for the miscreants has suddenly awoken from… Read more

United States: Critical and Concerned by Argentina

Clarin May 17, 2013 by Marcelo Bonelli The Obama government sent an official to collect information about macroeconomic imbalances, legal insecurity and the implications of the tax amnesty pushed by Cristina. An emissary from the U.S. Treasury was secretly in Buenos Aires to evaluate the political impact that could provoke Argentina’s difficult economic situation.  He… Read more

Blog Post: Argentina’s Worrying New Tax Amnesty Measure

May 16, 2013 President Cristina Kirchner has devised a clever way to bring American dollars to the Argentine economy, thirsty for U.S. greenbacks.  The government has offered a tax amnesty to Argentines that are “thought to hold tens of billions of dollars in undeclared U.S. dollars if they invest that money in energy and construction… Read more

Boudou to be investigated over the 2010 debt swap

La Nacion May 22, 2013 By Paz Rodriguez Niell Vice President Amado Boudou has a new case open against him: they will investigate him for his alleged ties to the financial firm Arcadia, which played a role in the exchange operation for debt in default and was accused of “influence peddling”. Prosecutor Jorge Di Lello… Read more

Hillary strongly criticizes and speaks of the ‘heavy hand of government’

Clarin May 24, 2013 The former secretary of State to Barack Obama, Hillary Clinton, came out on both the “setbacks and concerns” that exist in Argentina about the course of the economy, the intervention of the government about the same, the fiscal accounts and corruption, and desired that these issues “be addressed by the Argentines,… Read more

Cristina has 100 billion pesos in the cash box

Clarin May 26, 2013 By Alcadio Ona A climate of concern has settled over the front lines of government.  It’s there silently, like a corner of the universe penetrated by fear, many officials are aware that there are many diagnostic errors abounding in economic policy which then spread to the quality of decision-making.  But they… Read more

Kirchner shakes up the soccer schedule but fails to kick corruption claims into long grass

The London Times May 28, 2013 By James Hider Authorities in Argentina switched the kick-off of the biggest Sunday night football match to make sure that it clashed with a television documentary setting out devastating corruption allegations against President Fernández de Kirchner. Even in football-mad Argentina, however, the gamble did not pay off. More people… Read more

Ten years of economic management from the Kirchner family

Ambito Financiero May 23, 2013 By Claudio Loser The system of government in Argentina is republican, representative and federal.  There are no houses of royalty even though some want them.  There is no caste government, while some groups, particularly the Argentine military and its allies believed it had that right and brought Argentina through a… Read more

Kirchnerism, in the worst of all worlds

La Nacion May 30, 2013 By Carlos Pagini Until September 2010, Cristina Kirchner was accusing the Iranian government of protecting those responsible for the terrorist bombing of the AMIA.  But in January 2011, she sent Hector Timerman to Syria to negotiate with Iran’s Foreign Minister Ali Akbar Salehi on the creation of a commission that… Read more

Argentina's Elected Autocracy

Hudson Institute May 30, 2013 By Jaime Deremblum Back in September, Argentines held massive nationwide rallies to protest the autocratic abuses, economic failures, and rampant corruption of President Cristina Kirchner. Two months later, they held even bigger demonstrations. And on April 18, they held their largest protests yet, with roughly two million people marching in cities and towns across the… Read more

Argentina: "The New Narco State"

As Argentina continues to defy international norms and isolate itself as a rogue state, U.S. government officials have voiced concern for years over Argentina’s involvement in the international drug trade. In a 2008 speech, the U.S. Drug Enforcement Administration’s Michele Leonhart addressed Argentina’s growing role in the illicit methamphetamine (or “meth”) trade: “We see new… Read more

Argentina’s Strengthening Ties with Iran

Kirchner Helps Iran Whitewash Crimes in AMIA Bombing President Cristina Kirchner continues to undermine justice for the worst terrorist attack in Argentine history. In January 2013, the Kirchner government signed a pact establishing a joint “truth commission” with Tehran. Despite its Orwellian name, the only purpose of this commission is to whitewash Iran’s responsibility for… Read more

Blog: Hillary Clinton Addresses Argentina’s “Heavy Hand of Government”

May 31, 2013 Hillary Clinton recently urged Argentina to get its house in order.  In a video from the 8th Annual Conference on Latin America in New York earlier this month, the former Secretary of State urged the Argentine government to address its economic issues forthrightly, pointedly noting the importance of adherence to the rule… Read more

Questions in the U.S. over Argentina’s future

La Nacion May 20, 2013 By Silvia Pisani WASHINGTON.- It’s not enough to hide the questions and doubts.  But the cautious silence that reigns over Argentina in this city has widened in recent weeks awaiting the court ruling over the debt in default and the political impact that it could have in bilateral relations. “The… Read more

Cristinanomics

Foreign Policy June 4, 2013 By Douglas Farah Argentina’s President Cristina Fernández de Kirchner has hit on a novel way to try to alleviate her self-inflicted economic free fall and acute shortage of hard currency — invite money launderers from around the world to put their dollars in Argentine banks with no questions asked. That’s… Read more

In midst of trade tension with Brazil, a key minister arrives

Clarin June 18, 2013 In the midst of heavy secrecy, Brazil’s Minister of Development, Industry and Foreign Trade, Fernando Pimentel, arrived yesterday in Buenos Aires to deal with bilateral trade issues.  The most urgent issue is the expiration on June 30 of the automobile accord that is in effect between both countries, in a context… Read more

Relations with the U.S. will be colder after Martinez’s departure

Perfil June 16, 2013 When Ambassador Vilma Socorro Martínez ends her representation of the United States in Buenos Aires, bilateral relations between both countries will be more distant than they have been in years.  Such is the analysis from career diplomats in the Palacio San Martín, while they observe how the youth of La Campora… Read more

Hernán Lorenzino was booed in Miami

La Nacion June 13, 2013 The Minister of Economy, Hernán Lorenzino, had a bad moment yesterday in Miami airport when he was booed as he came off flight AA900 by some fellow passengers. During the flight, Lorenzino tried to be as discreet as possible and sat in seat 4A in first class, next to the… Read more

Mercosur is a “lost bet”, says Porzecanski

Valor June 12, 2013 By Fabio Murkawa Selling commodities to China and manufactured products to Argentina and Venezuela is a “lost bet”, in the opinion of Uruguayan economist Arturo Porzecanski.  Such a trade strategy, which the economist attributed to Brazil, is “useless for a country that plans to join the first world,” he said. With… Read more

CFK lashes out at Fayt as key decisions loom

Buenos Aires Herald June 11, 2013 President insists she wants to ‘democratize all three branches of government’ At a time when the Supreme Court will play a central role in deciding the fate of a pair of key government initiatives, President Cristina Fernández de Kirchner yesterday criticized the oldest member of the country’s highest court…. Read more

Shop ‘Til It Drops

New York Times June 11, 2013 By Daniel Politi BUENOS AIRES — Eight years ago, it was almost impossible to get a taxi driver in this city to accept a 100-peso note, the highest denomination. Nowadays they barely bat an eyelid. You can thank inflation for that: In 2005, the starting fare for a cab… Read more