Latest news with #Argentines
Yahoo
2 days ago
- Business
- Yahoo
Analysis-Argentina takes baby step toward financial order with pricey $1 billion debt auction
By Rodrigo Campos, Walter Bianchi and Jorge Otaola NEW YORK/BUENOS AIRES (Reuters) -Argentina's first major bond sale in seven years, a $1 billion offering with payments in pesos, is a clear sign that global investors are regaining their faith in a country recently mired in triple-digit inflation. But the nearly 30% yield, higher than many expected, showed a high level of apprehension remains. President Javier Milei needs to prove to Argentines voting in October, the International Monetary Fund and foreign investors that the economic recovery will continue. Annual inflation has fallen to near 50% from over 270% a year ago. He has convinced the IMF to lend Argentina $20 billion and slashed government spending without losing much popularity, even though nearly 40% of Argentines live below the poverty line. Argentina owes around $300 billion, about $60 billion of which is in dollar-denominated international bonds. A return to dollar-denominated financing in global capital markets is embedded in the IMF program and is sorely needed to cement the recent recovery. This week's offering is "an important milestone on the path to refinancing future dollar commitments," said economist Gustavo Ber, head of Buenos Aires-based Estudio Ber. BTG Pactual called it a "savvy move" with the same outcome as the central bank buying dollars with pesos, without distorting the foreign currency market. The government said late on Wednesday that demand for the 5-year notes was about 1.7 times the $1 billion cap. The 29.5% yield exceeded initial expectations for about 25% and investors have the option to sell back the bonds after two years. Markets on Thursday signaled partial support, when prices for Argentina's dollar bonds issued under foreign or local laws rose marginally. Auctions like this could be replicated but other steps are crucial, said Armando Armenta, senior economist at AllianceBernstein. "It would be better to see more foreign direct inflows and, more importantly, the central bank purchasing reserves to meet the net international reserve accumulation targets," Armenta said. "This would open the door for Argentina to access the dollar sovereign debt market early next year." PESO DEBT On Thursday, peso-denominated debt prices fell and the 10-year local note yield rose, roughly to 27% from 26%. "These rates in pesos are very high, considering their expectations of inflation falling towards 10% in the next two years," said Clyde Wardle, senior emerging markets FX strategist at HSBC, of the yield paid this week. If the current 47% inflation keeps falling sharply, those rates will turn out to be very high and raise the risk of pushing the government to print pesos to pay bondholders, he said. The new offering's yield was well above the expectations of local brokerage Puente, which noted that it "does not indicate strong conviction regarding the future evolution and sustainability of the (currency exchange)." The peso has fallen about 9% to the dollar since capital controls were loosened in mid-April. Argentina has promised the IMF to add $4.4 billion to its net reserves by mid-June. Those reserves were in the red in December and analysts doubt the June objective will be met. The new bond shows investor limits for now, HSBC's Wardle said. "It is unlikely Argentina could find an affordable dollar-denominated issuance rate that attracts foreign investor interest. There is still too much uncertainty about growth." Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
📹 Fortaleza lose to Racing but still reach Libertadores last 16
📹 Fortaleza lose to Racing but still reach Libertadores last 16 In El Cilindro, Fortaleza lost to Racing 1-0 in Argentina on Thursday (29), in the last round of the group stage of the 2025 Conmebol Libertadores. Although the Argentines had greater control of the actions, Laion scared first, before three minutes, with Marinho's missile that took paint off the post. Advertisement Still in the first half, goalkeeper João Ricardo made two good saves to keep the score at zero. After the break, the scenario did not change. However, after hitting the crossbar, Racing opened the scoring with a great goal from Martínez with a half-bicycle. 🚦 How it stands Despite the defeat in Argentina, the victory of Colo-Colo 1-0 over Atlético Bucaramanga, secured Fortaleza in second place in Group E with eight points. Racing advanced to the round of 16 in the lead with 13 points, while Bucaramanga was directed to the playoffs of the South American round of 16. Next Monday (2), Conmebol will hold the draw for the round of 16 matches. Advertisement Laion returns to the field next Sunday (1), when they visit Flamengo, at Maracanã, for the 11th round of the Brasileirão. This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here. 📸 Marcelo Endelli - 2025 Getty Images
Fox Sports
2 days ago
- Health
- Fox Sports
Argentine court declares a mistrial in the death of soccer star Maradona
Associated Press BUENOS AIRES, Argentina (AP) — An Argentine court on Thursday declared a mistrial in the case of seven health professionals accused of negligence in the death of soccer legend Diego Maradona, the latest dramatic twist in a trial that has captivated the nation and the soccer world for more than two months. The judges ruled there would be a new trial, without specifying when. The whiplash decision comes after one of the three judges overseeing the trial stepped down over criticism surrounding her participation in a forthcoming documentary about the case, Divine Justice, which spans the aftermath of Maradona's death to the start of the trial. A one-and-a-half-minute trailer intercuts archival footage of Maradona scoring goals with shots of the judge, Julieta Makintach, strutting through the court in high heels and a short skirt. Presenting the teaser in court, the prosecutor asked judges to investigate Makintach's alleged role in allowing the documentary to be filmed during the trial. As the documentary snowballed into a national scandal, Makintach on Tuesday said that she had 'no choice' but to resign from the case As a result, the judges decided on Thursday to restart the entire case, effectively turning the clock back on all proceedings since March 11, when the trial began amid intense media scrutiny and called dozens of distraught witnesses to testify over the course of the following weeks. Thursday's decision threw into doubt the timeline of the trial, which was initially expected to last until July. The panel said that a higher court would select the three new judges by lottery. The case accuses Maradona's medical team of failing to provide adequate care for the soccer star in weeks leading up to November 25, 2020, when, at the age of 60, Maradona died from cardiac arrest while recovering from surgery for a blood clot on the brain. The defendants in the case include Leopoldo Luque, Maradona's primary physician at the time of his death, as well as his psychologist, psychiatrist, medical coordinator and nurses. They all deny the charges and say Maradona was a difficult patient who did not allow himself to be treated. Maradona, who famously won the World Cup with Argentina in 1986, is regarded as one of the greatest soccer players of all time. At home, his fellow Argentines revere him as a national hero. recommended
Hamilton Spectator
2 days ago
- Health
- Hamilton Spectator
Argentine court declares a mistrial in the death of soccer star Maradona
BUENOS AIRES, Argentina (AP) — An Argentine court on Thursday declared a mistrial in the case of seven health professionals accused of negligence in the death of soccer legend Diego Maradona, the latest dramatic twist in a trial that has captivated the nation and the soccer world for more than two months. The judges ruled there would be a new trial, without specifying when. The whiplash decision comes after one of the three judges overseeing the trial stepped down over criticism surrounding her participation in a forthcoming documentary about the case, Divine Justice, which spans the aftermath of Maradona's death to the start of the trial. A one-and-a-half-minute trailer intercuts archival footage of Maradona scoring goals with shots of the judge, Julieta Makintach, strutting through the court in high heels and a short skirt. Presenting the teaser in court, the prosecutor asked judges to investigate Makintach's alleged role in allowing the documentary to be filmed during the trial. As the documentary snowballed into a national scandal, Makintach on Tuesday said that she had 'no choice' but to resign from the case As a result, the judges decided on Thursday to restart the entire case, effectively turning the clock back on all proceedings since March 11, when the trial began amid intense media scrutiny and called dozens of distraught witnesses to testify over the course of the following weeks. Thursday's decision threw into doubt the timeline of the trial, which was initially expected to last until July. The panel said that a higher court would select the three new judges by lottery. The case accuses Maradona's medical team of failing to provide adequate care for the soccer star in weeks leading up to November 25, 2020, when, at the age of 60, Maradona died from cardiac arrest while recovering from surgery for a blood clot on the brain. The defendants in the case include Leopoldo Luque, Maradona's primary physician at the time of his death, as well as his psychologist, psychiatrist, medical coordinator and nurses. They all deny the charges and say Maradona was a difficult patient who did not allow himself to be treated. Maradona, who famously won the World Cup with Argentina in 1986, is regarded as one of the greatest soccer players of all time. At home, his fellow Argentines revere him as a national hero.
Miami Herald
3 days ago
- Politics
- Miami Herald
Family of imprisoned Argentine rescued out of Venezuela in another daring operation
In what is being described as a secret rescue operation, the partner and the son of an Argentine police officer, Nahuel Gallo, who is currently imprisoned by the Venezuelan regime, have managed to leave Venezuela with the help of Argentine authorities, local media reported on Wednesday. Details of the escape remain confidential. Those involved say discretion is essential to protect the safety of María Alexandra Gómez, Gallo's partner, and their son, Victor Benjamin, as well as others who facilitated the operation. According to local media, the Gomez and Benjamin are now in Colombia. Gallo is currently being held at a Venezuelan prison and faces espionage-related charges. Their departure marked the end of a harrowing chapter. Living in the eastern Venezuelan state of Anzoátegui with Gómez's mother, the family endured severe economic hardship and persistent fear of government reprisals. Although Gómez faced no formal travel restrictions, the risk of being detained at the border prompted her to seek help, triggering what sources described as a silent and carefully planned extraction effort. 'We won't be okay until he's free,' Gómez posted on social media in January—a stark reflection of the anxiety surrounding Gallo's situation. That uncertainty remains. Gallo was detained in December after crossing the Francisco de Paula Santander International Bridge into Venezuela to visit his family. Since then, his family's only contact with him has been a brief phone call, made from a cell phone borrowed from a taxi driver on the day of his arrest. The only evidence of his condition is a photograph showing him in prison uniform, reportedly in El Rodeo prison, though his exact location has not been confirmed. In Buenos Aires, Gallo's mother, Griselda Heredia, learned of Gómez and her grandson's escape through the media. 'I am shaken by this news. We had no idea,' she told DNews. 'I am in a state of desperation now because if they let her go, what will happen to my son?' Gallo's arrest came amid escalating repression by the Maduro government. In recent weeks, Venezuelan authorities have detained multiple foreign nationals—including two Argentines who were later released—accusing them of attempting to overthrow the regime following the contested presidential election of July 28, which has been marred by widespread allegations of electoral fraud. The Argentine government has responded with increasing fire. Last Friday, the Foreign Ministry condemned the Maduro regime's actions as 'state terrorism,' singling out Diosdado Cabello, Venezuela's second-in-command—as the architect of a 'repressive machine' built on 'fear, kidnappings, forced disappearances, and systematic harassment of family members.' The statement demanded Gallo's immediate release, along with all individuals held without due process, and announced plans to intensify Argentina's complaint against Venezuela before the International Criminal Court, calling for an urgent ruling on alleged crimes against humanity. Diplomatic tensions between Buenos Aires and Caracas have intensified since President Javier Milei took office in Argentina in December 2023. The relationship further deteriorated in February following Argentina's seizure of a Venezuelan aircraft, prompting Caracas to close its airspace. The crisis reached a peak with the arrest of Gallo and later with the dramatic escape of five Venezuelan opposition leaders who had taken refuge in the Argentine embassy in Caracas. The group — Magallí Meda, Claudia Macero, Omar González, Pedro Urruchurtu, and Humberto Villalobos — are close allies of Venezuelan opposition leader María Corina Machado and had been sheltered in the embassy since March 2024. The embassy, once a refuge for the opposition figures, ended up becoming a flashpoint in the broader geopolitical standoff. After more than a year confined within the diplomatic compound, which has operated under Brazilian protection since Argentine diplomats were expelled, the five managed to flee to the United States earlier this month.
