Updated

Dutch Newspaper De Telegraaf: Argentina must tackle underlying problems

The Argentinian Central Bank guards its capital in the same way against the equitable claims of foreign creditors as it does against the wrongful claims of its own government. As early as 2002, the bank secretly began transferring large parts of her remaining capital to the Basel-based Bank for international Settlements (BIS). Today, the BIS holds almost 80 per cent of Argentina's total credit reserves. Although the Argentinian Central Bank is only of the 57 members of BIS, Argentinian capital forms more than 10 percent of all the capital held at the Swiss bank . The reason why the Argentinians chose the BIS is that credit held there cannot be accessed through the courts by any third parties looking to recoup their losses from the 2001 default disaster. It's somewhat disappointing, to say the least, that the BIS, which has always championed transparency in the field of the monetary reserve policy of central banks, allows itself to be used for such cheap monetary disappearance acts.

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ATFA Emphasized Argentine Disregard for U.S. Educators in Times Square

"Argentina's refusal to repay its debt to U.S. educators has deeply hurt our ability to plan for the future. Without our pensions, many educators will be unable to support themselves into retirement, a fact that Argentina consistently ignores in its refusal to repay its outstanding court judgments and unpaid debt." Kathy Malachowski, Association of New Jersey County College Faculty President, said.

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Latest News

• 2/04/10
  'The swap is going forward, absolutely' (La Nacion)
  


• 2/04/10
  Marco del Pont will preside over the Central Bank (El Cronista)
  


• 1/23/10
  Argentinian Nightmare (De Telegraaf)
  


• 2/03/10
  Boudou wants to control Pesce with his own troops (Clarin)
  


• 2/02/10
  Seeking to eliminate the autonomy of the BCRA to align it with the government (El Cronista)
  


• 2/01/10
  Former president Kirchner involved in alleged money speculation operation (Mercopress)
  


• 2/01/10
  Kirchners eye control of central bank (Financial Times)
  


• 2/01/10
  The government analyzes giving the Central Bank another profile (La Nacion)
  


• 1/31/10
  'Debt payment guaranteed,' Cabinet Chief says (Buenos Aires Herald)
  


• 1/28/10
  Seeking to gain confidence in the U.S. (La Nacion)
  

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U.S. Government
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The Debt and Europe

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ATFA Member Spotlight

National Taxpayer's Union

Open Letter to the U.S. House of Representatives: Protect Taxpayers from Judgment-Evading Nations

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Argentine International Reserves & Argentina GDP