Friday, Mar 19, 2010

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Serving History > topics > Argentine debt restructuring > Current Situation

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Argentine debt restructuring Sub Topics Navigation: Multimedia Overview General Introduction Web References Discussion/Commentary Twitter Activity News Items Blog Posts Image Gallery Video Archive Current Situation Disindebtment Policy Anticipated Payment Allegations Of Use Of Unpublished Accounts Of Clearstream Venezuelan Government Buys Argentine Bonds Endnotes

Argentine Debt Restructuring: Current Situation Current Situation In the June 2005 report by the Ministry of Economy, the total acknowledged debt of the Argentine state amounted to 126,466 million USD, down by 63,464 million from the first semester as a result of the restructuring process; of this, 46% was denominated in dollars, 36% in pesos, and 11% in euros and other currencies. Due to the full payment of the IMF's debt see below and several other adjustments, as of January 2006 the total figure decreased to 124,300 million USD. Debt bonds not exchanged in 2005 accounted for 23,381 million USD, of which 12,688 million were already overdue. Because of the lack of payment to these creditors, Argentina is the only member of the G-20 that is unable to raise capital in the international financial markets. Individual creditors worldwide, who represent about one third of this group, have mobilized to seek repayment from the Argentine state. Among the most prominent are The Task Force Argentina, an Italian retail bondholder association, and Mark Botsford, a private U.S. citizen retail bondholder. The American Task Force Argentina, sponsored by a New York sovereign debt fund, states their ultimate aim is to bolster the stability of global credit markets; work towards an equitable outcome for remaining creditors; ensure the integrity of U.S. law; and strengthen crucial bilateral relations between the United States and Argentina. Image Gallery :: Argentine Debt Restructuring Current Situation Related Resources : Argentine Debt Restructuring globalexchange.org/campaigns/wbimf/925.h : Argentina Didn't Fall on Its Own (GlobalExchange.org) 50years.org/cms/updates/story/199 : Argentina: IMF slammed by own independent panel - A report by the Independent Evaluation Office of the IMF. pagina12.com.ar/diario/elpais/1-60572-20 : Full anticipated payment to the IMF: news reports in Reuters, Forbes, Miami Herald, Buenos Aires Herald, La Nación (in Spanish), La Capital (in Spanish), Página/12 (in Spanish) bcra.gov.ar : Banco Central de la República Argentina - Argentina's Central Bank website, with various economic statistics available on the fly. ig-argentinien.org : Interessengemeinschaft Argentinien e. V. (non-profit-association of creditors involved in the restructuring, based in Germany). imf.org/external/country/ARG : Argentina and the IMF on the IMF website. tfargentina.it : Associazione per la Tutela degli Investitori in Titoli Argentini/Task Force Argentina (pressure group based in Rome, representing the interests of default bondholders in Italy). atfa.org : American Task Force Argentina (pressure group based in Washington, D.C., representing the interests of institutional default bondholders in the U.S., and co-chaired by Robert J. Shapiro, former U.S. Undersecretary of Commerce in the Clinton Administration, and Nancy Soderberg, member of the National Security Council under Clinton). gcab.org : Global Committee of Argentina Bondholders (global association of Argentina bondholder groups and committees from around the world, representing holders of over US billion in debt. It includes more than 500,000 retail investors and more than 100 institutions, banks, partnerships and committees). Related Resources :: Argentine Debt Restructuring Current Situation Argentine Government Restructuring Debt The Argentine - Argentine government debt restructuring for privately-held debt was offered markets and to close this chapter in Argentine economic history. To read more about politics and current Argentine Bond Deal 'Revolt' Against the IMF - Argentine Bond Deal Revolt' Against the IMF. by It still has a sizable debt load, even after the restructuring. better understanding of the country's current situation The Argentine Economic Situation - The Argentine Economic Situation . John B. Taylor financial crises in 2000-2001 and the current to find a way such that when a sovereign debt restructuring

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