Argentina Flash Notes

Economic Cabinet Shake-up

December 26, 2016BancTrust & Co. Research Team

The government Cabinet Chief Marcos Peña announced in a press conference today the resignation of Alfonso Prat-Gay as Treasury & Finance Minister, alleging differences within the economic team and its functioning. Thus, early rumors were confirmed, pointing also to important

Argentina Flash Notes

Argentina Flash Note – Tariffs Face a Decisive Week

August 17, 2016Hernán Yellati & Guillermo Quiroga

Tariffs Face a Decisive Week The Court will likely issue a ruling regarding the tariff issue this Thursday as the rise was halted last month According to official estimates, the cost of reverting the rise in tariffs would reach an

Argentina Flash Notes

Final Steps

February 23, 2016Hernán Yellati & Guillermo Quiroga

Judge Griesa ruled in favor of Argentina as he agreed to lift the pari passu injunction order on Argentine Exchange bonds if two conditions are met This allows Argentina to finally pay exchange bondholders and get out of the default

Argentina Flash Notes

Not This Week, Not This Month

January 18, 2016Hernán Yellati & Guillermo Quiroga

Macri’s government will not present an offer to holdouts this week With the previous addition of me-too funds to the case, and the needed reform of pertinent legal framework via Congress (to resume activities in March), the final resolution of

Argentina Flash Notes

Market Perceptions on Macri and Scioli

November 12, 2015Hernán Yellati & Guillermo Quiroga

As polls stand right now, Macri should prevail on the 22 November run-off In terms of reforms, the market would give Macri the benefit of the doubt A political change in itself is positive news in our view. Yes, Macri

  • Tuesday, January 16 2018

    Venezuela:

    - Yesterday the President Nicolas Maduro gave its yearly speech which should be something close to the state of the union and that according to the constitution should be presented in front of the National Assembly. However, this year and arguing the illegality of the National Assembly, the decision was to give his speech in front of the National Constituent Assembly. In detail, more than a state of the union this was one of the usual speech of the President with not much data to collect. Among

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  • Monday, January 15 2018

    Venezuela:

    - The dialogue meeting held in the Dominican Republic between members of the opposition and the government last weekend culminated again without any results. International mediators indicated that although some agreements were reached, several points remain pending and both parties will meet again this Thursday, January 18. In our opinion, it was expected that results would not be achieved,as we have been saying we believe that the most likely to happen is that the negotiation rounds will culmin

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  • Friday, January 12 2018

    Venezuela:

    - The National Electoral Council (CNE in Spanish) announced that it has approved the schedule for the validation of political parties that did not participate in the last municipal elections which it will take place on 27 and 28 of January. The process will be carried out to comply with the order of the National Constituent Assembly (ANC), which has as its sole purpose to be another obstacle for the opposition. We believe that at the moment the attention is focused on the negotiations in the Dom

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  • Thursday, January 11 2018

    Venezuela:

    - The situation regarding Venezuela’s debt with Brazil received yesterday two mixed updates, as the Brazilian Ministry of Finance reported that the first paid an old debt but that it is still in arrears with another payment. In detail, the ministry informed that Venezuela paid USD262.5mn – corresponding to the May-August period of 2017 – on 5 January as part of their commitments under the Reciprocal Credit and Payments Agreement (CCR), which is part of the benefits of the Latin American In

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