News of debt

TRANSITION 2019

IMF says it's 'ready to engage' with Alberto Fernández

07-11-2019 20:06 IMF spokesman says Fund is ready to talk to president-elect and his team, but says no meeting is planned.

FOREIGN POLICY

Alberto Fernández discusses IMF debt with Trump adviser

07-11-2019 12:02 President-elect reportedly tells US official he will honour IMF debt and wants to work together with Trump, despite differences on other issues.

WASHINGTON CALLING

Trump phones Fernández: 'Your victory has been talked of around the world'

01-11-2019 18:11 After five days of silence, the United States president congratulates his new Argentine counterpart. The IMF deal and future cooperation were discussed. “We need to do things together,” Fernandez tells Trump.

BLOOMBERG - OPINION

Eduardo Levy-Yeyati: Argentina's narrow path to common ground

01-11-2019 07:30 Economist and author Eduardo Levy-Yeyati says Alberto Fernández has a chance to fix Argentina's deep-seated economic problems — if he acts quickly.

DEMONSTRATION

Protesters march against IMF in downtown Buenos Aires

31-10-2019 19:44 First social protest since the election of Alberto Fernandez sees hundreds march through downtown Buenos Aires.

signs from Washington

US tells Fernández it expects him to 'uphold commitments' in IMF deal

31-10-2019 09:56 US Treasury Secretary Steven Mnuchin tells incoming government that Washington expects Argentina to uphold its commitments laid out in IMF loan package.

ALBERTO IN OFFICE

Debt relief, social pact key aspects of Alberto Fernández’s economic plans

26-10-2019 09:10 As much as we know about the Frente de Todos hopeful’s approach, should he win election on Sunday.

BLOOMBERG

Alberto Fernández hints at bond haircut of about 20%

25-10-2019 09:17 Presidential hopeful has repeatedly referred to the default – or the reprofiling, as he likes to call it – in neighbouring Uruguay in 2003 as a model for what he’d like to do to make Argentina’s US$100-billion debt load more manageable. But is that really possible?

BLOOMBERG - OPINION

Chris Bryant: Norwegian Air is flying again

24-10-2019 12:44 As with WeWork, Norwegian’s once giddy valuation imploded last year when investors started to doubt that the balance sheet was robust enough to support Kjos’s huge ambitions.

AS I SEE IT

Crunch time is about to arrive

19-10-2019 13:36 For most of the country’s political leaders, trade unionists, businessmen and other influential personalities, the traditional way of doing things is perfectly natural and the ideas they cling to are only common sense.

by James Neilson

CHUBUT DEBT CRISIS

No end in sight to Chubut’s debt crisis as workers pay price

12-10-2019 11:23 Driven by crushing provincial debt and economic mismanagement, public workers in Chubut are on strike as they face the second so-called “staggered pay” situation in two years.

by Lucas Robinson

SPECIAL FEATURE

Students take over schools in Chubut amid crippling debt crisis

12-10-2019 09:56 Three months into a teachers strike over unpaid salaries and the shocking condition of public schools in the oil-rich province, students have had enough.

by Lucas Robinson

Bloomberg

Investors stuck in Argentina rush to local corporate bond market

11-10-2019 10:34 Foreign investors are starting to flock to Argentina’s usually sleepy local corporate-bond market, desperate to reinvest cash stuck in the country due to recently imposed capital controls.

OPINION AND ANALYSIS

Brazilian football is on the road to self-destruction

11-10-2019 08:00 A conspiracy of blunders and malfeasance by professional football’s elite handlers has squandered talent and left Brazil's cherished national institution in shambles.

by Mac Margolis

ECONOMIC INDICATORS

Argentina's external debt equivalent to US$6,310 per person

09-10-2019 17:24 Foreign debt continues to grow, with the total figure now standing at close to US$284 billion, according to INDEC. That works out to around 378,604 pesos per person at the current exchange rate.

Election 2019

Kicillof: 'There are people selling drugs because they have lost their jobs'

07-10-2019 13:50 "From going to the neighborhoods I heard news that due to the drop in employment, there are people who selling drugs," says Kicillof, prompting criticism from Patricia Bullrich and Cristian Ritondo.

BLOOMBERG

Argentines shift money into short-term deposits ahead of election

03-10-2019 18:46 As the presidential vote draws closer, savers are increasingly choosing short-term instruments for their deposits.

DEBT DEBATE

Alberto Fernández offers first real hint as to how he will deal with debt

28-09-2019 03:14 Frontrunner in October’s presidential vote hints at Uruguay-style solution to debt problem, adding that he expects a “serious and sensible” negotiation with creditors.

CHUBUT PROVINCE

Unrest in Chubut grows as recession, debt squeezes oil-rich province

18-09-2019 13:00 Chubut is drowning in a sea of debt, with the provincial government facing difficulties in paying salaries in full and on time to teachers, medical doctors, court employees, office clerks, pensioners and security forces.

Bloomberg

Argentine bondholders pull out old guidebook to flee country

08-09-2019 08:55 “Many investors thought Argentina was on its way to becoming Chile or Colombia – stable, investment grade,” said Leo Chialva, a partner at Buenos Aires-based consulting firm Delphos Investment. “Those large funds are horrified by the latest measures.”

economy

Debt all around as middle class feels the squeeze

07-09-2019 01:30 Facing mounting piles of credit card debt, unpaid medical bills and private school fees, Argentina’s cash-strapped middle class, much like the State itself, is facing its own debt default.

BLOOMBERG

The US$15 billion of distressed provincial bonds that no-one is talking about

04-09-2019 09:13 Argentina's provinces were among the most prolific issuers when international capital markets reopened to Argentina. By offering interest rates in excess of 9%, they were able to lure yield-hungry investors to little known and sparsely populated corners of the country.

BLOOMBERG

Vulture funds circle Argentina, waiting for right time to buy

03-09-2019 17:06 Less than five years after settling with hold-out creditors from a record default in 2001, Argentina is again looking like a ripe target for funds that specialise in wringing value out of distressed assets.

LEGISLATION

Government to seek support before submitting bill to 'reprofile' local debt

02-09-2019 16:46 After talks with the legislative branches of the Cambiemos coalition, Executive decides to seek consensus with opposition lawmakers beforehand submitting project.

Turbulence

The campaign or the nation?

31-08-2019 01:30 Argentina’s ninth debt default in its history is but one more stain in an already tarnished reputation.

by Agustino Fontevecchia

INTERVIEW: PERIODISMO PURO

Pichetto: 'Words like 'irreversible' are too rigid for Argentine politics.'

31-08-2019 00:55 From Peronist Senate stalwart to vice-presidential candidate. President Mauricio Macri’s running-mate, Miguel Ángel Pichetto explains why Juntos por el Cambio can still win in October.

by Jorge Fontevecchia

Elections 2019: Campaign watch

Macri should drop out of the presidential campaign

31-08-2019 00:42 More people might actually vote for Macri if they see he has made a political sacrifice for the common good.

by Marcelo J. Garcia

Election 2019

My name is bond, 'reprofiled' bond

31-08-2019 00:37 When volatile Argentina shudders, its peso currency is thumped. The dollar deposit drain, a hushed issue that nobody wants to talk about in the open, is not slowing down.

by Martín Gambarotta

BLOOMBERG

Macri’s surprise debt plan silences Argentina’s opposition

30-08-2019 19:03 Since the government's decision to "reprofile" the country's debt, Alberto Fernández's political faction has yet to stake out a position on the massive economic development.

BLOOMBERG

Argentina says it will buy bonds from local funds hit by withdrawals

30-08-2019 14:02 Central Bank tries to stem investor panic and stabilise mutual fund industry.

BLOOMBERG

Argentine mutual funds block redemptions as locals rush for exit

30-08-2019 10:46 The government's decision to extend maturities has triggered a run on mutual funds.

ECONOMY

Lacunza calls for new deadlines for IMF debt repayments

28-08-2019 18:30 In a press conference on Wednesday, the finance minister expressed the government's intent to negotiate a new debt restructuring with the IMF.

IMF VISIT

IMF to meet again with Lacunza, Fernández's economic team

26-08-2019 10:44 The Fund hopes to determine whether or not to approve another US$5.3-billion loan in September, the newest installment of its record agreement with the government.

BLOOMBERG

With victory in sight, Alberto Fernández must explain plan for Argentina

13-08-2019 10:28 As opposition candidate continues to blame Macri for Black Monday, investors await the Peronist leader's own economic plan.

BLOOMBERG

Latin America's central banks poised to join global rate cut party

25-07-2019 09:52 Brazil, Peru and Mexico indicate rate cuts are on the cards, but Argentina remains the outlier.

BLOOMBERG

Chubut province seeking to extend debt maturities

24-07-2019 23:17 Though the provincial government’s bill calls for a “restructuring,” provincial economy minister said there are no risks for current bondholders.

IMF DEAL

Lagarde's IMF resignation set for September 12

16-07-2019 13:02 IMF Executive Board to announce new director in a "timely fashion"

CNN INTERVIEW

Macri uncut: President blasts rivals in primetime interview

15-07-2019 13:01 Juntos por el Cambio leader vows that Argentina "is not going to default," lets rip at union leaders in wide-ranging interview.

BLOOMBERG

Argentina corporates pay high price in return to debt market

10-07-2019 13:04 Local firms returning to international capital markets after more than a year away may find their window to sell debt is already closing.

Claudio Loser

Lagarde departure will not alter Argentina relationship, says ex offical

03-07-2019 10:23 The Mauricio Macri government signed a US$56-billion 'stand-by' loan deal with the IMF in June, 2018. Macri's opponents say the conditions of the deal must be renegotiated.

Super Caputo

"This time is different"

07-04-2018 10:52 The rich businessman is the central node in Macri’s vision of the productive economy, generating jobs and growth by pursuing profit-making opportunities, progressively replacing the bloated state. And, if in order to achieve this goal one must relay on methods that stand at the boundaries of ethics, so be it.

by Agustino Fontevecchia

FINANCE MINISTER IN CONGRESS

Caputo: 14 statements on debt financing, budget deficit

04-04-2018 11:49 Finance Minster Luis Caputo addressed a special committee for the monitoring of foreign debt.

ECONOMIC QUESTIONS

Easter obligations

31-03-2018 10:44 The more cautiously you cut state spending, the more you need to finance the publicsector borrowing requirement by incurring debt – a time-bomb which has usually proved to be the detonator in Argentina’s explosive economic history.

by Michael Soltys