Last Sunday, the people of Argentina cast their votes and Mr. Mauricio Macri was elected president. He is the leader of the opposition party “Cambiemos” (Let´s Change) and he has defeated Cristina Fernandez de Kirchner, who has ruled the country for 12 years (since 2003).
A federal judge on Thursday said Citigroup Inc. cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it tries to reenter international debt markets.
While most analysts and investors expect Venezuela and its state-owned oil company to make $5.3 billion in bond payments coming due next month, concern is mounting the country may find itself without enough cash to service debt as soon as next year as foreign reserves drop to an 11-year low.
As grain supplies arrive from a harvest that is almost complete, thieves are targeting cargo, fuel and personal belongings on trucks headed into Rosario, where increasing drug trafficking led to a doubling of the murder rate in three years.
According to court documents filed in London last week, a fund managed by Soros’s family office, has joined a group of investors suing bond trustee Bank of New York Mellon Corp. for failing to distribute 226 million euros ($298 million) of interest payments on Argentine debt.