Category: Argentina
Posted inDaily Brief

Rato Defends Holdouts

by LatinFinance

As Argentine and IMF officials met in Washington to discuss a possible refinancing of Argentina´s $12 billion debt to the Fund, IMF director Rodrigo Rato said Argentina must find a solution for bondholders that did not participate in the county´s debt swap. In February 76 percent of investors holding defaulted Argentine debt agreed to a swap for new bonds. A defiant President Nestor Kirchner said Argentina “won’t cede anything.”

Posted inDaily Brief

Argentina – IMF Talks Begin

by LatinFinance

Argentina´s Finance Secretary Guillermo Nielsen began negotiations with the IMF Wednesday with the hope of reaching a new loan accord. The country currently owes the Fund about $10 billion. The IMF, to the chagrin of President Kirchner, has demanded Argentina´s primary fiscal surplus stand at 4.5 percent of GDP, above its current rate of about 3.2 percent. Argentina recently completed a swap with investors in which it exchanged about $100 billion in defaulted debt for new bonds.

Posted inDaily Brief

Argentina to Issue Bonds

by LatinFinance

Argentina’s government is expected to place $500 million worth of bonds in the domestic market today. The placement would have Boden´s 2012 current rate, between 7.5 and 8.0%. If demand for the debt is high analysts expect the government to consider issuing another $500 million of debt later this year. Argentina defaulted on almost $100 billion of debt in 2001.

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