News of pandemic

BLOOMBERG

Argentina bonds are trading as if the pandemic never happened

07-08-2020 12:34 Debt accord has left the bonds trading at pre-pandemic levels, even as the country lacks the outline of a credible economic plan to get itself out of the current deep crisis.

BLOOMBERG

Government seeks to reach new IMF agreement before April

07-08-2020 00:49 Government seeks deal with the International Monetary Fund over a new financing programme before the end of March, in order to renegotiate US$2-billion payment owed to the Paris Club that matures in May.

DEBT RESTRUCTURING

With debt deal done, Argentina must answer: What’s the plan?

05-08-2020 16:20 President Alberto Fernández’s next step is to start talks for a new International Monetary Fund programme against a harrowing backdrop.

Global Pandemic

Artificial intelligence helps doctors fight Covid-19 in Brazil

05-08-2020 15:28 In their effort to combat under-testing, Brazil is utilising artificial intelligence to help detect infections.

DEBT RESTRUCTURING DEAL

Support – and silence – from opposition economists in wake of debt deal

05-08-2020 00:31 Luis Caputo the most effusive in celebrating the government's deal with creditors, while Hernán Lacunza and Lucas Llach also express support. Alfonso Prat-Gay, the former official who was most critical of the deal, leads the criticism.

by Andrés Fidanza

DEBT RESTRUCTURING

Creditors 'pleased' with 'preliminary agreement' on debt restructuring

04-08-2020 23:43 IMF chief Kristalina Georgieva welcomes debt deal reached by Argentina and its creditors as a "very significant step."

DEBT RESTRUCTURING

Economists praise debt deal but warn challenges on horizon

04-08-2020 18:38 Experts welcome government's agreement with creditors, but warn that Argentina must now correct imbalances and other issues.

DEBT RESTRUCTURING

'We resolved an impossible debt,' declares delighted Fernández

04-08-2020 14:19 President Alberto Fernández hails government after officials confirm Argentina has reached an agreement with three major creditors over restructuring of US$66-billion debt.

DEBT DEAL AGREED

Government hails ‘significant debt relief’ in accord with creditors

04-08-2020 09:44 Deal involves the Ad Hoc, Argentina Creditor Committee and Exchange Bondholder groups, as well as "certain other significant holders," Economy Ministry confirms in a statement.

DEBT RESTRUCTURING

Argentina reaches US$65-billion debt restructuring deal with creditors

04-08-2020 08:59 Government says in a statement that deal with key creditors would provide “significant debt relief.” While it statement didn’t provide a net-present value for the agreement, sources say the deal is worth about 54.8 cents on the dollar.

BLOOMBERG

Argentina, creditors inch closer on US$65-billion debt deal

03-08-2020 17:47 The sides have moved closer over the weekend and are discussing a deal where creditors would receive about 54.8 cents on the dollar, according to three people with direct knowledge of the talks.

DEBT RESTRUCTURING

Ecuador wins bondholders’ approval for debt restructuring

03-08-2020 15:26 Creditors vote in favour of a restructuring plan for US$17.4 billion of debt that will see the South American country's capital and interest payments reduced.

BLOOMBERG

Creditors seek international backing on debt clauses

02-08-2020 17:01 Bondholders approach several international organisations, including IMF and US Treasury, to seek endorsement for a proposal to change the rules that govern some of the country’s overseas securities.

DEBT RESTRUCTURING

Guzmán hints at deadline extension for debt talks with creditors

01-08-2020 09:42 Economy minister says government is “assessing all options,” with talks at an impasse as August 4 deadline nears.

EDITORIAL

Judicial reform and jumping the queue

01-08-2020 09:07 The judicial reform bill announced this week suffers all the problems of Caesar’s wife – it must not only be honourable but seen to be so, a challenge which neither its context nor origin nor timing favour.

BLOOMBERG - OPINION

A refugee crisis is the last thing Latin America needs

29-07-2020 15:55 Latin America is already confronting a public health calamity, an unprecedented economic collapse and incipient social unrest. The last thing it needs is a refugee crisis, as well.

by Mac Margolis

ECONOMIC INDICATORS

Hit by Covid-19 lockdown, exports fell 11% in the first half of year

28-07-2020 22:23 In the first six months of 2020, exports reached US$27.388 billion, reveals INDEC national statistics bureau.

DEBT RESTRUCTURING

Government to seek new IMF plan, regardless of outcome of debt talks

28-07-2020 14:43 Argentina will seek a new programme with the IMF whatever the outcome of talks with bondholders, says Economy minister Martín Guzmán.

DEBT RESTRUCTURING

Creditors once again reject government's debt restructuring offer

28-07-2020 14:36 In a letter sent to Economy Minister Martín Guzmán, signed by 30 funds, main bondholder groups reiterate rejection of deal on table and say they hold veto power over any agreement.

BLOOMBERG

Argentina's creditors boost bargaining power with new funds

27-07-2020 23:21 Main bondholder groups now say they represent 50% of Argentina's overseas debt, potentially strengthening their bargaining power against the government.

BLOOMBERG

Jobs are being wiped out at airlines – and there’s worse to come

24-07-2020 15:34 About 400,000 airline workers have been fired, furloughed or told they may lose their jobs due to the coronavirus.

ECONOMIC INDICATORS

Economic activity slumped 20.6% in May from previous year

24-07-2020 01:42 INDEC confirms 13.2% contraction in first five months of 2020, though activity was up 10% on April, recovering some of lost activity during pandemic lockdown.

Coronavirus Pandemic

Once-bustling La Boca struggles without tourists

23-07-2020 02:00 Legendary neighborhood, normally filled to the brim with tourists and shops, now appears deserted due to quarantine and travel regulations. Shopkeepers and residents struggle to cope with economic contraction and loneliness.

council of the americas

Fernández asks creditors for 'understanding' on debt offer

22-07-2020 01:18 Argentina simply cannot pay more than the offer that is on the table, president says during Council of the Americas event.

DEBT RESTRUCTURING

Debt deal at impasse as creditors unite to reject government's offer

20-07-2020 23:50 Three groups of creditors announce they have rejected Argentina's proposal to restructure US$66 billion of debt and delivered a counter offer to government – which President Alberto Fernández promptly dismisses out of hand.

Bloomberg

Creditors join forces to demand better terms on debt deal

20-07-2020 21:54 Three largest creditor groups join forces in negotiations, rejecting government's "final" offer and submitting their own counter proposal.

Global pandemic

Chile seeks to end confinement amid global Covid-19 spikes

20-07-2020 14:13 Chilean President Sebastián Piñera announced the "Step by Step" plan to get out of 60 days of quarantine.

INTERVIEW

Vilmar Ibarra: 'Both Alberto and Cristina know this coalition works with both of them'

20-07-2020 10:35 Legal & Technical secretary Vilmar Ibarra is one of President Alberto Fernández's most trusted officials. In an interview, she discusses the relationships within the ruling Frente de Todos coalition, judicial reform and the potential legalisation of abortion in Argentina.

by Rosario Ayerdi

CORONAVIRUS PANDEMIC

Dr. Maureen Birmingham: ‘This is an opportunity to transform Argentina’s health system’

18-07-2020 09:29 The World Health Organisation and Pan American Health Organisation’s representative in Argentina explains how the UN agency is providing support to officials and what post-pandemic changes need to be made to the health system.

by Jennifer Heiman & Anina Hoffman

Global pandemic

Brazil tops two million coronavirus cases, with 76,000 dead

17-07-2020 02:01 Even as cases wane somewhat in the biggest and hardest-hit Brazilian cities, the virus is peaking in new locations across the largest country in Latin America.

DEBT RESTRUCTURING

The ball is in the creditors' court, says Guzmán

16-07-2020 16:55 Economy Minister Martín Guzmán says Argentina is not seeking a "confrontational" relationship in debt talks and says the onus to make a deal is now on the country's creditors.

DEBT RESTRUCTURING

'We can't do more than this,' Fernández tells Argentina's creditors

13-07-2020 23:54 President says in a radio interview that Argentina has made its "maximum effort" to reach an agreement with bondholders, reiterating that what's on the table is the country's "final offer."

'Echizen Maru' in Ushuaia

57 sailors onboard fishing ship in Ushuaia test positive for Covid-19

13-07-2020 23:17 Argentine fishing boat docks in Ushuaia after 35 days at sea, after crew begin showing signs of coronavirus. Reports say 57 of the 61 crew-members onboard the 'Echizen Maru' – who all isolated for 14 days before setting sail – have tested positive for coronavirus, puzzling experts.

BLOOMBERG

World drinks less coffee while office workers stay home

13-07-2020 12:52 Global coffee consumption is set to fall this year for the first time since 2011. In a work-from-home world, hitting the local cafe for a daily caffeine fix has become a ritual of the now-forgotten past.

BLOOMBERG

Ecuador’s speedy debt deal underscores Argentina’s hang-ups

10-07-2020 17:31 President Lenín Moreno’s administration struck an agreement with some of its top bondholders this week ahead of a mid-August deadline, when a moratorium on payments ends. By contrast, Argentina has presented a second binding offer to creditors after pushing back its deadline five times.

DEBT RESTRUCTURING

Guzmán rules out changes to offer, but creditors say proposal 'falls short'

09-07-2020 02:37 Economy Minister Martín Guzmán rules out further changes to government's debt restructuring offer as offer wins support from IMF and some G20 finance ministers. Large creditors, however, aren't impressed.

BLOOMBERG

Malbec bonds beat defaulted Argentine peers on investor hope

09-07-2020 02:26 A glimmer of hope is lurking within Argentina’s default-ravaged debt landscape: Bonds sold by Mendoza, the Andean-bordering province famed for exports of full-bodied Malbec wine.

Coronavirus pandemic

Macri: 'The government has tried to diminish freedoms' during pandemic

09-07-2020 01:50 Former president breaks silence in online interview, vowing to strengthen his Juntos por el Cambio coalition ahead of next year's midterms and accusing the Alberto Fernández administration of seeking to "diminish freedoms."

DEBT RESTRUCTURING

This is Argentina's final debt offer, Guzmán tells creditors

08-07-2020 17:33 Economy minister describes talks as "a cold shower of reality for creditors," as they've come to realise Argentina's limitations.

DEBT RESTRUCTURING

Favourable initial reaction to Argentina's new debt swap offer

08-07-2020 16:58 Two investment funds, Gramercy and Fintech Advisory, express approval for Argentina's new debt restructuring offer. Creditors entering the swap stand to obtain 53.5 cents for every dollar loaned as against 39 cents in the first offer rejected by most creditors.

Global pandemic

Ignoring outrage, Trump makes good on WHO pullout

08-07-2020 00:09 In late May, Trump said that China exerted "total control" over the WHO and accused the UN body of failing to implement reforms.

Coronavirus pandemic

Fernández wishes Bolsonaro a speedy recovery from Covid-19

07-07-2020 23:28 Peronist leader sends his Brazilian counterpart a letter wishing him a speedy recovery, after Bolsonaro confirmed Tuesday he had tested positive for Covid-19.

DEBT RESTRUCTURING

Government files new debt restructuring offer with SEC

07-07-2020 14:04 Argentina formally presents its new proposal to the US Securities and Exchange Commission, extending deadline for acceptance to August 4.

BLOOMBERG - OPINION

Mohamed A. El-Erian: Argentina's debt proposal deserves support

07-07-2020 01:35 It would be in neither side's long-term interest to allow the theoretical best to be the enemy of the attainable good – what is now on the table warrants support by both Argentina and its creditors.

US INDEPENDENCE DAY

United States gears up for a very unusual Fourth of July

04-07-2020 09:13 From big cities to backyards, this year’s Independence Day celebrations won’t be the usual blowout bash.

OPINION

Giorgio was right

04-07-2020 08:51 Quarantine has been renewed, presented as a lifestyle by the government.

by Pola Oloixarac

FISCAL PARADISE?

Uruguay’s new tax residence rules spark interest among Argentines

04-07-2020 08:24 Seeking to attract immigrants with high purchasing-power, Uruguay has relaxed its fiscal residence requirements – triggering a rush of consultations from Argentines.

CORONAVIRUS PANDEMIC

Argentina records highest number of Covid-19 fatalities in single day

04-07-2020 08:14 Health Ministry officials confirm deaths of 52 individuals – Argentina’s highest daily toll to date. With 2,845 people having tested positive over the last 24 hours, infections are continuing to accelerate.

ANALYSIS

Sino-American dispute a looming threat for Argentina and Brazil

04-07-2020 07:57 The relationship between Buenos Aires and Brasilia is in intensive care and the lack of coordination between the two governments exposes the region to an external vulnerability – becoming a place where the US and China settle their differences.

by Leandro Dario

MERCOSUR’S VIRTUAL SUMMIT

Mercosur vows unity in face of pandemic, as Macron cools on trade deal

04-07-2020 07:49 President Alberto Fernández calls for unity in face of the coronavirus pandemic during virtual summit, as reports in France suggest Emmanuel Macron has gone cold on Mercosur-EU trade deal.