Category: Argentina

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.

to join discussions at LatinFinance’s Cumbre Financiera Argentina in Buenos Aires, 27 – 28 July 2005. Apply for your invitation today at www.latinfinance.com/argentina

to join discussions at LatinFinance’s Cumbre Financiera Argentina in Buenos Aires, 27 – 28 July 2005. Apply for your invitation today at www.latinfinance.com/argentina

to join discussions at LatinFinance’s Cumbre Financiera Argentina in Buenos Aires, 27 – 28 July 2005. Apply for your invitation today at www.latinfinance.com/argentina

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.

to join discussions at LatinFinance’s Cumbre Financiera Argentina in Buenos Aires, 27 – 28 July 2005. Apply for your invitation today at www.latinfinance.com/argentina

to join discussions at LatinFinance’s Cumbre Financiera Argentina in Buenos Aires, 27 – 28 July 2005. Apply for your invitation today at www.latinfinance.com/argentina

The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed a $250 million loan agreement with the Argentine branch of Pan American Energy to finance part of its capital expenditure program this year. The unit is the second-largest oil and gas producer in Argentina, accounting for some 13 percent of the country’s output.

to join discussions at LatinFinance’s Cumbre Financiera Argentina in Buenos Aires, 27 – 28 July 2005. Apply for your invitation today at www.latinfinance.com/argentina

Argentina sold $350 million in peso-denominated inflation-linked bonds (BODEN) that mature in 2014. The issue was significantly oversubscribed, with investors offering $1.8 billion for the debt. The bonds are set to yield 5.20 percent above the rate of inflation, below the 5.51 of the government´s last Boden auction.