Skip to main content

Argentina Will Pay Some Of Its Bills!

  • Author:
  • Updated:

Maybe it would pay some others if certain vultures would just offer it a $3 billion loan?

Argentina will offer about $500 million in compensation to resolve disputes filed by corporations at a World Bank arbitration panel, a local newspaper reported on Thursday.

The payment, to be made in sovereign bonds, will go to five companies that have filed complaints at the World Bank's International Centre for Settlement of Investment Disputes, financial daily Ambito Financiero reported on its website, without citing sources.

Argentine bonds rallied, reducing the extra yield investors demand to hold the securities instead of U.S. Treasuries to the lowest level in almost a year, as the government negotiates a $3 billion loan from the World Bank….

Economy Minister Hernan Lorenzino said yesterday the country is in talks with the World Bank to secure financing through 2016. Bonds are also rising after the Buenos Aires-based newspaper Ambito said the country is resolving its claims with the lender’s arbitration tribunal and as President Cristina Fernandez de Kirchner’s hospitalization spurred speculation there will be a change in government, said Siobhan Morden, the head of Latin American strategy at Jefferies Group LLC in New York.

Argentina top pay $500 mln to end disputes at World Bank -report [Reuters]
Argentine Bonds Rally as Government Negotiates World Bank Loan [Bloomberg]


Paul Singer Having Some Fun With Argentina Again

Well, fun for Singer. Argentina, not so much.