RE: Did i see on BNNLOL!!! nothing like spreading 1/2 the story.......read the full article. It's only 1.7 million, maybe more and it was done at the request of holders of Argentine bondswho had refused to renegotiate the country's debt in 2005. Chump change.
Regards,
daCritic
Argentine sees central bank reserves frozen in US
(AFP)–1 day ago
BUENOS AIRES — Argentina's economy minister on Tuesday confirmed atleast 1.7 million dollars of central bank reserves held in the UnitedStates had been frozen by a New York judge.
"At this moment, some1.7 million dollars have been seized and in any case it couldn't bemore than 15 million dollars," Economy Minister Amado Boudou told apress conference.
He said Manhattan Judge Thomas Griesa hadordered the funds frozen at the request of holders of Argentine bondswho had refused to renegotiate the country's debt in June 2005.
Itis the latest twist in a dispute that has plunged the country into ainstitutional crisis, which has seen the judiciary, President CristinaKirchner and lawmakers at odds over the running of the central bank.
Kirchnerhad ordered the sacking of central bank boss Martin Redrado forrefusing the government access to billions of dollars to pay down thenational debt.
Argentina's courts later blocked the sacking and prevented the government from using reserves to pay down the debt.
Creditors in New York reported receiving a court order announcing the freezing of the reserves.
"Today,"a spokesman for Elliott Management said "(we) did receive an order ofattachment from Judge Griesa for all assets of the (Argentine) CentralBank in New York."