News of coronavirus

Global pandemic

White House imposes coronavirus travel ban on Brazil

Today 08:39 Brazil, now Latin America's hardest-hit country, has recorded more than 347,000 cases and more than 22,000 deaths from Covid-19.

DEBT RESTRUCTURING

Debt renegotiations to continue – with confidentiality agreements

Yesterdat 18:22 Economy Ministry asks bondholders negotiating with it to sign a confidentiality agreement, after government extends deadline for talks to June 2.

Coronavirus pandemic

Government extends quarantine for 15 more days amid rise in infections

23-05-2020 22:30 President Fernández announces Argentina will extend government's mandatory social isolation until June 7, amid an acceleration in the spread of the new Covid-19 coronavirus.

AS I SEE IT

Getting down to business

23-05-2020 10:19 Something must be badly wrong with a system which offers voters a choice between Trump and Joe Biden. Surely a country inhabited by over 330 million people can do better than that?

by James Neilson

PANDEMIC POLITICS

Buenos Aires versus Buenos Aires

23-05-2020 09:21 Horacio Rodríguez Larreta is under pressure because he needs to control the epidemic in the metropolis. Otherwise his reputation could be tarnished – possibly even ruined.

by Martín Gambarotta

LATIN AMERICA

South America is the ‘new epicentre’ of Covid-19 pandemic, says WHO

23-05-2020 09:08 Mexico and Brazil reported record counts of new cases and deaths almost daily this week, reigniting criticism of their presidents, who have slow-walked shutdowns in attempts to limit economic damage.

CORONAVIRUS PANDEMIC

Covid-19 surge takes Argentina past 10,000-infection barrier

23-05-2020 07:36 Buenos Aires City and Province to retain tight restrictions, as officials confirm 718 infections and 14 deaths in 24 hours. President to announce next steps at press conference later today.

Global pandemic

Brazil surges to second in coronavirus cases worldwide

22-05-2020 23:30 The surge came as the World Health Organisation declared South America "a new epicentre" of the pandemic.

DEBT RESTRUCTURING

Government to rework debt offer after missing interest payment

22-05-2020 23:05 Counter-offers submitted by bondholder groups are better than their original proposals, yet still far from what the country considers sustainable, says Martín Guzmán.

Global pandemic

As virus swamps Peru, Venezuelan migrants collect the dead

22-05-2020 13:30 Despite strict measures to control the coronavirus, Peru has become one of the countries worst hit by the Covid-19 disease. With more than 104,000 cases and 3,000 deaths, Peru was 12th in the world in numbers of confirmed diagnoses Wednesday, more than reported by China and just behind India.

BLOOMBERG

Argentina faces ninth default with bondholder talks extended

22-05-2020 13:15 Argentina’s Ambassador to the United States Jorge Argüello publishes letter saying the government won't meet payment due today until a new agreement is reached with creditors.

DEBT RESTRUCTURING

Default looms for Argentina despite debt deadline extension

22-05-2020 13:15 Argentina was teetering on the brink of a second default this century on Friday as the deadline for a US$500-million bond interest repayment approached.

DEBT TALKS

Economy Ministry extends deadline for debt talks to June 2

22-05-2020 03:12 Government will miss US$500-million payment due today; Economy Ministry extends deadline for negotiations with creditors for 10 days.

Coronavirus pandemic

New high as officials confirm 648 infections; 12 deaths, including 19-year-old

22-05-2020 02:54 More than 9,000 cases of Covid-19 have been confirmed in Argentina. The deaths of nine men and three women were confirmed Thursday, with all but two from Buenos Aires City and Province.

DEBT RESTRUCTURING

Argentina has been 'in default for months,' says Fernández

22-05-2020 02:16 "We have been in default for months, before December even we were in default," says Peronist leader.

FOOTBALL IN ARGENTINA

Old habits hard to shake as AFA regains control of top-flight football

21-05-2020 23:08 AFA President Claudio 'Chiqui' Tapia awarded fresh four-year term, as football governing body regains control of top-flight football, bringing in new Liga de Fútbol Profesional to replace Superliga.

by Dan Edwards

BLOOMBERG

BlackRock, Ashmore form Ecuador creditor group as swaps pay out

21-05-2020 14:02 Ecuador is slashing spending and negotiating a new loan package with the IMF, while money managers line up together to present a united front for restructuring talks.

DEBT RESTRUCTURING

'Any kind of default could be cured in short order,’ says creditor group

21-05-2020 13:39 While some kind of default in Argentina is likely, investors said a default wouldn’t be immediately followed by litigation because taking legal action amid the talks solves nothing.

DEBT RESTRUCTURING

Government to extend debt offer as talks continue past Friday

21-05-2020 13:23 Argentina will skip delayed US$500-million interest payment on Friday, but plans to extend talks by at least 10 days, sources say.

Coronavirus pandemic

Officials confirm 474 new virus infections, new daily high for Argentina

21-05-2020 02:26 Total number of confirmed cases now stands at 9,283, death toll rises above 400.

Coronavirus pandemic

Fernández, Rodríguez Larreta, Kicillof agree 'no margin' to loosen quarantine

21-05-2020 02:10 President, provincial governor and city mayor agree there is "no margin" to further liberalise quarantine measures in Greater Buenos Aires, given current state of affairs.

BLOOMBERG

Inflation expectations soar amid Central Bank stimulus

21-05-2020 01:41 Plans to greatly expand the amount of money in circulation, while the demand for pesos is low and inflation is already at 45%, have increased concerns about rising prices.

BLOOMBERG

Hedge funds build war chests to target dislocated debt in Europe

21-05-2020 01:27 About a dozen funds are in race to gather more than US$11 billion, which would more than double the unspent capital available in European distressed debt money pools, according to data compiled by Preqin.

Global pandemic

Colombia grounds flights through end of August

21-05-2020 00:41 Colombia plans to ground international travel until at least the end of August, joining Argentina in enacting one of the world’s strictest travel bans in response to the coronavirus pandemic.

ECONOMIC INDICATORS

Economic activity fell 11.5% in March as lockdown kicked in

20-05-2020 18:12 INDEC national statistics bureau reveals economy contracted by 11.5% in March, as lockdown kicked in. Experts anticipate that April's data will be even worse.

Coronavirus pandemic

Brazil sees record virus deaths as pandemic surges in Latin America

20-05-2020 17:10 Health officials in Brazil reported 1,179 new coronavirus deaths on Tuesday – the first time the daily toll exceeded 1,000.

Is cash still King?

Cash, long a refuge in uncertain times, now under suspicion

20-05-2020 08:23 In troubled times, people have been known to hoard currency. But in the coronavirus crisis, things are different. Cash, so often a source of reassurance, is now a source of suspicion.

DEBT RESTRUCTURING

Creditors, government still far apart on debt offers as deadline looms

19-05-2020 18:02 In a webinar, Economy Minister Martín Guzmán says he expected negotiations to extend past May 22. Two sides remain some way apart, just days before default deadline arrives.

Global pandemic

'This is war' – Virus charges beyond Latin American hot spots

19-05-2020 16:07 Coronavirus crisis threatens to overwhelm Latin American cities stretching from Chile to the Colombian Amazon, in an alarming sign that the pandemic may be only at the start of its destructive march through the region.

Global pandemic

Antarctica's splendid isolation keeps coronavirus at bay

19-05-2020 15:23 Antarctica remains the only Covid-19-free continent – thanks in the main to strict security and not a little luck.

Coronavirus pandemic

City of Córdoba resumes lockdown after virus cases spike

19-05-2020 15:20 Officials in provincial capital roll back easing of lockdown measures following a sharp spike in coronavirus infections, authorities confirm.

Global pandemic

Brazil jumps to third highest tally of Covid-19 cases worldwide

19-05-2020 14:24 Brazil has also registered 16,792 Covid-19 deaths, the sixth-highest toll in the world. Experts say under-testing means the real figure could be 15 times higher or more.

Coronavirus pandemic

Government extends ban on unjust lay-offs for another two months

19-05-2020 13:08 In a bid to secure jobs amid the coronavirus crisis, Fernández administration extends existing ban on dismissals without "just cause" until July 31.

Coronavirus pandemic

Villa 31 community leader's death from Covid-19 sparks anger

19-05-2020 02:22 Ramona Medina, key Villa 31 community leader and resident, dies just days after denouncing 12 days without drinking water in her barrio. 'La Garganta Poderosa' accuses authorities of failing to protect residents in vulnerable neighbourhoods.

Coronavirus pandemic

Trump reveals he is taking anti-malaria drug hydroxychloroquine

19-05-2020 00:39 Trump's latest remarks came out of the blue, immediately grabbing headlines on a day when US deaths from Covid-19 topped 90,000 people – almost a third of the total world toll.

Global pandemic

The Argentine priest on the Covid-19 front line in New York

18-05-2020 23:20 Reverend Fabian Arias, from Buenos Aires, is a Lutheran pastor at Saint Peter’s Church in Manhattan. He has has performed funeral services 14 times in the last two months.

Bloomberg

Flybondi bets on flights in Argentina to survive virus crisis

18-05-2020 17:23 Low-cost carrier will focus on domestic flights as long as demand for international travel remains subdued due to the coronavirus pandemic, says executive.

BLOOMBERG

Provinces gear up for debt battles after first 'selective default'

18-05-2020 16:53 Half-a-dozen regional governments are taking their own steps to weigh up options as Argentina negotiates with holders of its overseas debt ahead of a May 22 deadline.

BLOOMBERG

Argentine bonds climb on hopes new offers will spark a deal

18-05-2020 16:42 Rally extended after largest creditor groups present new debt restructuring counter-proposals, fuelling speculation the parties could be closer to reaching a deal.

Global pandemic

Lockdown easing in Europe, but virus hits hard in South America, Africa

18-05-2020 12:29 Rising death tolls in Brazil, South Africa and other parts of the world show the worst is still to come for many countries.

Coronavirus pandemic

'Express burials' hide true Covid-19 picture in Nicaragua

18-05-2020 09:14 To date, President Daniel Ortega's government has confirmed just 25 cases of the coronavirus and eight deaths – but rights groups and experts believe the numbers are far higher.

Coronavirus pandemic

Lammens suggests moving football to province without coronavirus

18-05-2020 08:34 It "would not be crazy" to move games to a province with little to no circulation of the virus, should football restart, says Tourism and Sports minister.

DEBT RESTRUCTURING

Government studies counter-offers as debt talks enter crucial week

17-05-2020 21:22 Government is continuing to analyse three counter-offers from creditors they hope will break the debt deadlock.

Coronavirus pandemic

Latin America and Caribbean records 500,000th virus case

17-05-2020 08:42 Almost half of the region's cases have been recorded in Brazil, which has now recorded more than 15,000 deaths. Number of confirmed cases in Argentina rises to 7,805, with 363 fatalities to date.

Coronavirus pandemic

Rise in Covid-19 death toll, infections sparks concern among officials

16-05-2020 12:44 Both national and provincial officials worried by spike in fatalities as conditions for lockdown are slowly lifted; President Alberto Fernández hails local researchers for developing new faster, more efficient Covid-19 testing kits.

DEBT RESTRUCTURING

Creditors submit new debt proposals to government

15-05-2020 23:22 Argentina’s largest creditors have sent Alberto Fernández’s government new counter-offers in an effort to reach a US$65-billion restructuring deal in the coming week.

BLOOMBERG

Buenos Aires Province cut to selective default by S&P global

15-05-2020 23:22 Argentina’s largest and most populous province is considered to be in selective default because negotiations with creditors are ongoing, making the proposal a “distressed exchange,” according to an S&P statement.

BLOOMBERG

Bank of America says Latin America’s economy to crash 6.8% this year

15-05-2020 15:55 Bank of America Corp expects Latin America’s economy to slump by 6.8 percent this year and warned that plans to reopen businesses are unlikely to go smoothly as new cases continue to soar.

DEBT RESTRUCTURING

Argentine bonds climb as creditors, government narrow the gulf

15-05-2020 15:51 Argentine bonds rose Friday on optimism that the government and its creditors will seal an agreement to restructure US$65 billion in foreign bonds.

ECONOMIC INDICATORS

Inflation slowed to 1.5% in April amid nationwide lockdown

15-05-2020 02:18 Consumer prices rose 1.5% in April compared to March, a significant decrease from the previous monthly figure of 3.3%, the INDEC national statistics agency reported.