Argentine President Cristina Fernandez on Monday will meet bondholder and billionaire financier George Soros, who is suing a U.S. bank caught in the middle of the country’s latest debt default, a government minister said.
The meeting comes as Fernandez’s leftist government struggles to kick-start growth and contain runaway consumer prices after failing to complete a June interest payment to Soros and other holders of bonds restructured after a previous default.
Soros’ portfolio also includes a 3.5 percent stake in Argentina’s state-controlled energy firm YPF (YPFD.BA). Buenos Aires has frequently cited the Hungarian-born magnate’s investments in the country as a signal of investor confidence in the $490 billion economy.
Cabinet chief Jorge Capitanich gave no details on what Fernandez and Soros would discuss. Local media reported Fernandez would be looking to shore up support for her unflinching stance against a small group of investors whose decade-long debt row with Argentina triggered July’s default.
Fernandez is in the United States ahead of the United Nations General Assembly, as relations between Buenos Aires and Washington sour over the role a U.S. court played in Argentina’s debt saga.
via Reuters
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Latest posts by Alfonso Esparza (see all)
- Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020 - 27 December 2019
- Market Awaits China Retaliation on Trade - 29 November 2019
- Alibaba to Close Order Book Ahead of Huge IPO - 18 November 2019