▲ Up
 
16:14 25-01-2015
MAIN Russian
About us On-line subscription
KazakhstanTajikistanUzbekistanKyrgyzstanTurkmenistanWorld
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
13:53 Triplets born for the first time in Talas regional hospital13:45 Negotiations with Kazakhstan on allocation of funds for Kyrgyzstan's joining Eurasian Economic Union underway13:39 Warm and friendly relations have established between Kyrgyzstan and Turkey - Vice Speaker of Parliament13:30 Rally against Charlie Hebdo's cartoons of Prophet Muhammad take place in Osh13:20 Bishkek to host staging of Alice in Wonderland in English12:52 President Atambayev offers condolences amid death of King of Saudi Arabia12:40 Young people go to fight in Syria for self-fulfillment - expert12:28 President ratifies $21 million grant agreement with JICA12:22 President signs law allowing Eurasian Economic Union members to conduct coordinated policy for consumer rights protection12:11 Commonwealth Cup 2015: Kyrgyzstan vs. Tajikistan 3:117:27 Monetary policy of each Eurasian Economic Union member including Kyrgyzstan remains independent: National Bank16:42 Frosts in northern Kazakhstan to reach -43 on the weekends16:27 Education Minister visits first digital educational television in Kyrgyzstan16:09 Germany has critized Kyrgyz government's work: Vice PM Dil14:48 Fujairah Emirate considering tourism cooperation with Kyrgyzstan14:31 Government ratifies draft Kyrgyz-Turkish cooperation deal on money-laundering matters14:16 Tsarnaev lawyers ask again to move trial outside Boston13:13 Woman killed in suspected bomb blast at India's court in Bihar13:08 Tajik CEC registers lists of candidates from Islamic Renaissance Party, Communist Party13:04 Kazakh Senate Speaker to attend funeral of Saudi King Abdullah
Astana
-25° C
Ashgabat
-1° C
Bishkek
-6° C
Dushanbe
+2° C
Tashkent
-4° C
exchange rates
 
67.52
59.90
9.62
0.94
207.57
184.10
29.56
2.90
5.99
5.37
0.86
0.08
2984.62
2409.67
388.81
45.20
3.92
3.50
0.56
0.05

© AKIpress News Agency - 2001-2015. All rights reserved
Use of the AKIpress.com materials 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