Arab Today, arab today argentine lawmakers weigh france as debt payment alternative
Last Updated : GMT 20:17:25
Arab Today, arab today
Arab Today, arab today

Argentine lawmakers weigh France as debt payment alternative

Arab Today, arab today

Arab Today, arab today Argentine lawmakers weigh France as debt payment alternative

The Senate of Argentina in Buenos Aires
Buenos Aires - AFP

Lawmakers in Buenos Aires debated a measure Wednesday that would transfer Argentina's payments on its restructured debt to France, as the South American country grapples with continuing fallout from its 2001 default.
A majority of senators expressed support for the bill, which would make France, as well as Buenos Aires, locations where Argentina's future restructured debt payments could be made, legislative sources told AFP.
The measure comes amid rising uncertainty in Argentina, where the economy is on the brink of recession, inflation has topped 30 percent and the peso is weakening.
With debate extending into Wednesday evening, a vote was not expected before Thursday.
Besides the bill dealing with the debt impasse, the Senate also will be considering separate legislation to regulate production and prices over the vehement opposition of the business sector.
The measures are backed by President Cristina Kirchner, whose supporters hold majorities in both houses of the Argentine Congress.
The bill related to the debt impasse was the Kirchner administration's latest attempt to circumvent a US court order that has blocked payments to creditors holding restructured Argentine bonds.
Argentina is still dealing with the after-effects of its 2001 default on $100 billion in debt, the largest in history at the time.
Buenos Aires reached deals with most of its creditors to restructure its debt, agreeing to repay them just 70 percent of their bond values.
But two "holdout" US hedge funds have refused to accept a write-down on their Argentine bonds, and the US court ruled in their favor, forcing Argentina into its second default in 13 years.
US District Court Judge Thomas Griesa ordered the Bank of New York Mellon (BoNY), which was acting as the agent receiving Argentina's debt payments, not to transfer any payments until Buenos Aires resolves its dispute with the holdout hedge funds.
Kirchner, furious over what she sees as an affront to Argentina's sovereignty, has revoked the BoNY authorization to act as its agent while seeking to open new avenues in Buenos Aires and Paris for paying its creditors as an alternative that would sidestep the US court order.
Meanwhile, some of Argentina's creditors, including US billionaire George Soros, have sued BoNY for failing to pay them the money they are owed.
Buenos Aires, which entered into default after the grace period on a $539-million interest payment expired on July 30, is scheduled to make the next payment on its restructured debt on September 30.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today argentine lawmakers weigh france as debt payment alternative Arab Today, arab today argentine lawmakers weigh france as debt payment alternative

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today argentine lawmakers weigh france as debt payment alternative Arab Today, arab today argentine lawmakers weigh france as debt payment alternative

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday