News of debt

Argentina to buy back US$1 billion in foreign debt

18-01-2023 09:15 Economy Minister Sergio Massa says Argentina’s government will buy back US$1 billion of foreign debt in bid to improve the country’s debt and risk profile; Measure, confirmed via resolution published in Official Gazette, focused on global bonds maturing in 2029 and 2030.

Venezuela’s nine-cent bonds lure a distressed-debt veteran

28-12-2022 14:16 Trader raising money to buy defaulted Venezuelan bonds amid signs of easing tensions between President Nicolás Maduro, the political opposition and the United States.

IMF clears way for latest US$6-billion disbursement

03-12-2022 23:17 "Prudent macroeconomic management and efforts to mobilise external financing are supporting stability," declares IMF mission team as latest staff review is signed off.

Argentina AySA deal said to have critical mass to deter holdouts

03-12-2022 08:14 Any creditors considering holding out for a better deal in a debt restructuring offer from Argentina’s state-owned water utility AySA should probably think again. 

United Nations: 54 poor nations urgently need debt relief

11-10-2022 12:56 United Nations Development Programme warns dozens of developing nations are facing a rapidly deepening debt crisis and that "the risks of inaction are dire."

Argentina 'must maximise resources to defend human rights,' says UN expert

06-10-2022 16:33 Visiting United Nations envoy Attiya Waris calls on authorities to ensure financial pressures do not affect the defence of human rights.

by Sam Forster

IMF agrees second Argentina loan review, backs US$3.9B payment

19-09-2022 14:33 Multilateral lender reaches staff-level agreement with Argentina over second review, praises "decisive" steps taken by Economy Minister Sergio Massa; Once approved by Fund's executive board, deal paves way for release of US$3.9 billion in funds.

IMF chief praises Massa's 'stabilising plan,' talks over review continue

12-09-2022 22:03 Argentina and the IMF to continue talks over latest disbursement of funds, says multilateral lender’s chief after high-level talks with Sergio Massa.

Debt has grown almost US$3 billion a month for last year

26-08-2022 11:11 Last month, the gross debt in a situation of normal payment rose to US$378.307 billion – around US$17 billion more than at the start of the year and US$35.747 billion more than July last year. In other words, the current fiscal deficit is close to three percent of gross domestic product, far from the targets pledged to the International Monetary Fund (IMF), whose review will begin in a few weeks. To meet them, the Central Bank would have to recover almost US$6 billion of reserves by December.

Argentine bond rebound stalls as new minister faces a mountain to climb

18-08-2022 16:53 Initial market confidence in Sergio Massa has faltered. New “super” minister must prove he can turn his promises to slow inflation into reality, as debt rebound decelerates.

New minister Batakis takes office in an Argentina full of uncertainty

07-07-2022 23:34 Silvina Batakis faces a number of key challenges and decisions; Issues like inflation, the IMF deal, the fiscal deficit and subsidies top her in-tray.

IMF ‘looking forward’ to working with Batakis at ‘difficult moment’

07-07-2022 16:06 New economy minister speaks with multilateral lender’s chief Kristalina Georgieva, who says Batakis confirmed her “commitment” to IMF refinancing programme.

IMF board approves first review of Argentina debt programme

24-06-2022 16:15 Executive board of International Monetary Fund signs off on first quarterly review, approving Martín Guzmán figures for US$44.5-billion debt programme and paying way for new disbursement of funds.

2,800 Argentines slipping into poverty every day, experts warn

23-06-2022 23:20 Private estimates reveal horrifying social data underlining that being employed, whether formally or informally, is no guarantee against being poor. With annual inflation approaching three digits and sustained price increases for food and beverages above the monthly average, family incomes are increasingly falling short.

by Gonzalo Martínez

Jubilant Gustavo Petro elected Colombia's first leftist president

20-06-2022 14:35 Ex-guerrilla Gustavo Petro elected Colombia's first ever left-wing president after defeating millionaire businessman rival Rodolfo Hernández in run-off.

Ex-guerrilla takes on maverick in race to be Colombia's president

18-06-2022 01:20 A former leftist guerrilla and a millionaire businessman will go head-to-head on Sunday hoping to become the new president of Colombia.

Argentina clears first review as IMF paves way for US$4-billion in funds

09-06-2022 00:34 IMF confirms it has reached a staff-level agreement with Argentina that will unlock US$4.03 billion in funding; Multilateral lender says government “met all qualitative targets in first quarter."

Argentina formalises debt repayment deferment with Paris Club

31-05-2022 13:07 President Alberto Fernández's government reaches a deal with the Paris Club to postpone payments on more than US$2 billion of debt for more than two years.

IMF: Targets in Argentina’s debt deal ‘have not changed’

19-05-2022 16:09 Fund Spokesperson Gerry Rice says staff are making “good progress” in review of debt restructuring deal, but that its “objectives have not changed.”

Colombia’s number one banker has no fear of leftist front-runner

19-05-2022 08:00 Luis Carlos Sarmiento Gutiérrez would figure to be one of the people fretting the most about the looming election of the first left-wing leader in Colombia’s modern history. But, at least publicly, he betrays little angst about the outcome of the vote this month.