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Argentina en route to become the "Greece of Latin America" claim Chilean exporters
MercoPress
May 17, 2012
Argentina could rapidly become the "Greece of Latin America" given the trade restrictions it has imposed born out of the lack of sufficient hard currency to face its international commitments, according to Chile's Manufacturing and Services Exporters Association, Roberto Fantuzzi.
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Repsol asks the government to make an offer for YPF before U.S. court
El Cronista
May 16, 2012
By Leandro Gabin
The company asks that the clauses of emission be honored. The country would have to make an offer for all of its shares. Talk of a campaign to depress prices. They ask for another valuation.
Repsol filed a claim against Argentina before the court of Judge Thomas Griesa, the judge that has innumerable cases against the country over the debt default. The Spanish company filed a class action lawsuit yesterday in the Southern District Court of New York for the expropriation of 51% of YPF's shares. Repsol asked Griesa to order the government to make a stock repurchase offer for all of YPF's capital, called a "tender offer" in financial jargon, so that an escape valve can exist for shareholders that are stuck in a company under public control. In fact, they are asking that the valuation of the shares be calculated by the court, as there "has already been a campaign by the government to reduce the valuation of the company."
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PRESS RELEASE: Top U.S. Lawmaker Critical of Argentina
Washington – House Speaker John Boehner (R-OH) provided remarks at the Council of the America's conference in Washington, D.C. where he emphasized the need for stronger engagement in Latin America and expressed concern at the "alarming willingness" of regional governments, such as Argentina, to flout the rule of law and serve as a base of support for Iran's perverse ambitions.
In a clear reference to Argentina, the Speaker warned:
"We must also be clear about what we expect from all our neighbors. We must insist that every nation honor the rule of law, meet its obligations, and respect international norms.
That means paying debts to bondholders; honoring legal commitments and the decisions made by international arbiters; and respecting private property.
Some governments in the region have demonstrated an alarming wiliness to drift away from such norms when it suits their objectives. When this occurs, it's harmful not only to the people of those countries, but to the potential of all of the Americas. And it cannot be excused."
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Latest News
- 5/17/12
Argentina en route to become the "Greece of Latin America" claim Chilean exporters (MercoPress)
- 5/16/12
Argentina's YPF says to comply with NYSE rules (Reuters)
- 5/16/12
ld Argentina remain a member of the G20? (Christian Science Monitor)
- 5/16/12
Repsol asks the government to make an offer for YPF before U.S. court (El Cronista)
- 5/15/12
Argentina on the Aegean (Wall Street Journal)
- 5/15/12
Repsol says starts legal process over YPF seizure (Reuters)
- 5/15/12
Brazil targets Argentina with trade licenses (Reuters)
- 5/14/12
Illegal enrichment probe possible for Argentine vice president, already under a cloud (Washington Post)
- 5/14/12
EU to lodge suit against Argentina with WTO (Reuters)
- 5/13/12
Argentina as No Claims-Nation Revealed in Repsol Losses: Energy (Bloomberg)
U.S. Government
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Resolution on Argentina's Generalized System of Preferences Status (GSP)
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