▲ Up
 
05:15 07-02-2016
MAIN АКИpress CA-News
About us On-line subscription
KazakhstanTajikistanUzbekistanKyrgyzstanTurkmenistanMongoliaWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Argentina's debt dilemma "impasse," not default: Brazil's finance chief

Bishkek (AKIpress) - Brazilian Finance Minister Guido Mantega said Thursday that Argentina's technical debt default can be more accurately described as an "impasse."

"I don't think Argentina is in default, because it is paying its debts," Brazil's G1 news website cited the minister as saying.

"It is an exceptional situation, because a United States judge is preventing it from making the payment," Mantega said.

Mantega said he believed negotiations could still continue between Argentina and the so-called vulture funds that triggered the technical default.

He also said that while credit rating agencies were already beginning to downgrade Argentina, the market in general was waiting to see how the situation unfolds and even adjusting to the new reality.

"There will be no major short-term consequences," said Mantega.

But if it is established that Argentina did in fact default on its debt, "then maybe there would be a greater impact" later on, added the minister.

The impact on the Brazilian economy is "nil," he said, adding that "there will be no direct impact."

On Wednesday, Argentina technically missed its deadline to make an initial payment to creditors. Even though it had deposited the funds in a New York bank. A New York judge barred the transaction due to legal wrangling.

Argentina is one of Brazil's main trading partners, and both countries are founding members of the Southern Common Market (Mercosur).


Twitterfacebookprint
10:41 01.08.2014
LATEST NEWS
19:05 PM Modi's Make in India, Digital India, Smart Cities good opportunity for US companies: Exim Bank18:03 Establishment of state lottery company proposed in Kyrgyzstan16:59 Government exempts voting equipment from customs duties16:38 Turkmenistan takes part in International Waterbird Census15:41 Kyrgyz Finance Ministry suggests to replace fixed external debt threshold with highest acceptable level15:15 Crisis in relations between Turkey, Russia has become a big problem for Kazakhstan: Nazarbayev14:49 Conflicts in Syria, Iraq demonstrate lack of unity among Muslims: Nazarbayev14:44 Kyrgyz government sets up commission to unify Kyrgyz language terminology14:36 Turkmenistan to publish explanatory and spelling dictionaries of Turkmen language14:31 PMs of Kazakhstan, Turkey discuss prospects of bilateral, multilateral relations14:22 Canadian courts considering 4 creditors' claims against Kyrgyz government13:04 Lithuanian company wins competition for production of excise stamps for alcohol, cigarettes12:18 Bishkek to bring together heads of government of CIS countries in late May12:04 Tajik border troops receive training in search and rescue11:58 Deadly quake rattles Taiwan11:55 Kyrgyz government spends 4.5 million Euros for its 3 Kumtor project consultants10:44 Profit of Osh International Airport exceeds 400 million soms in 201523:03 Indian IT services exports to cross $100 billion17:53 General Staff of Armed Forces of Kyrgyzstan plans to employ psychologists in army17:35 14yo girl gives birth in Naryn, father of newborn detained on rape charges
Astana
0° C
Ashgabat
+19° C
Bishkek
+12° C
Dushanbe
+13° C
Tashkent
+14° C
Ulaanbaatar
-17° C
exchange rates
 
83.73
74.78
11.38
0.97
406.97
363.72
55.34
4.74
6.85
6.26
1.01
0.12
3093.16
2836.87
431.22
37.74
3.92
3.50
0.53
0.05

© AKIpress News Agency - 2001-2016. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to www.akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75