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US court ruling sets up Argentina's return to international credit market


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US court ruling sets up Argentina's return to international credit market

* A U.S. appeals court ruled to lift injunctionsagainst Argentina and allow the country to make debt repayments, Reuters reported.A spokeswoman for the Finance Ministry said the sovereign intends to payits holdout creditors on April 22 using funds from an upcoming bond issuance, thenewswire reported separately.


* said it will C$185 million in a new corebanking technology system in Mexico as part of a series of measures aimed at improvingthe Canadian bank's long-term success.

* Authoritiesin Panama have not made any arrests or ordered the freezing of accounts in the PanamaPapers leaks scandal, Reuters reported. Law firm Mossack Fonseca, which is atthe center of the leak, said following a raid on its offices that it did not violateany laws and that it would cooperate with ongoing investigations.

* The approvalrating for Mexican President Enrique Pena Nieto has declinedto a record low 30% from 39% in December 2015, Reuters reported, citing a poll publishedin newspaper Reforma.

* Mortgage lendinggrowthin Mexico in 2016 will be lower than the 11.2% growth rate seen in the previousyear due to a decline in both job creation and subsidies, El Financiero reported, citing BBVABancomer SA Chief Economist Carlos Serrano.


* The Government DevelopmentBank for Puerto Rico's creditors withdrew a lawsuitagainst the bank following Puerto Rican Governor Alejandro Garcia Padilla's declarationof an emergency at the lender, Reuters reported. The legal action aimed to thwarta run on the bank, but the emergency declaration essentially serves the same purpose.


* and BTG PactualPrincipal Investments FIP reached an agreementto offload 100% of their shares in retail chain União de Lojas Leader SA to LegionHoldings for a symbolic amount. BTG said its investment in Leader "was notsignificant," adding that the deal is subject to regulatory approval and otherconditions.

* BrazilianPresident Dilma Rousseff vowed to create a national unity governmentif she survives impeachment proceedings, Reuters reported. However, Rousseff's chancesof remaining in office have suffered setbacks as a result of multiple allies splittingwith her ruling coalition.

* The numberof Brazilian who have defaultedon debt payments reached a record 60 million in March, according to credit researchfirm Serasa Experian. More than two million borrowers were placed on the defaultlist in the first quarter of 2016.

* Accordingto Brazilian federal audit court TCU, the country's government may have overestimatedits fiscal revenue for 2016 by 162.3 billion Brazilian reais, Folha de S.Paulo reported.

* Brazilianstate-owned development bank BancoNacional de Desenvolvimento Econômico e Social is launching a new creditline to boost exports of manufactured goods, O Globo reported.

* Due to anaccountingrule created by Brazil's national monetary council, state-owned bank Banco Nacionalde Desenvolvimento Econômico e Social paid 33.38 billion Brazilian reais in dividendsto the Treasury between 2012 and 2015, an amount higher than the bank's net incomeof 31.06 billion reais in the same period, ValorEconômico reported.

* CEO Edemir Pinto denied speculationthat the exchange could adopt abusive practices following its takeover of rivalCetip SA – Mercados Organizados,Valor Econômico reported.

* Politicaland economic uncertainty in Brazil is helping boostsales for insurance companies that provide coverage against riots and politicaldemonstrations, Diário Comércio Indústria& Serviços reported, citing Ana Maria Lorenzo Acácio, head of product developmentat Yasuda Maritima Seguros SA.

* will provide 88million Brazilian reais of financingto micro and small enterprises that export their produce in 2016, up from 43 millionreais in 2015, Diário Comércio Indústria &Serviços reported.


* raisedits 2016 growth forecastfor Peru's economy to 3.7% from 3.2% and its growth estimate for 2017 to 4.2% from4%, El Comercio reported.


* Banco Consorciohas reached an out-of-court settlementwith Chilean consumer protection agency SERNAC under which the bank agreed to eliminateabusive clauses in mortgage contracts and to reimburse clients for interest andcollection fees charged in the last five years. Around 1,500 clients will benefitas a result of the agreement, which includes compensation of 25.4 billion Chileanpesos.

* Moody's Latin America Agente de Calificación de Riesgo withdrewall of its ratings on Cordial CompañíaFinanciera SA for its own business reasons.

* Horacio Pavez, a member of GrupoSecurity SA's board, increased his stakein Banco Security SA byabout 1% after buying approximately $10.4 million worth of shares, Diario Financiero reported.

* Argentine banks will remain closed on April 14 due to a nationwide strikeby employees who are protesting layoffs in the sector and demanding higher wages,La Nación reported.


* Ironshore Inc.said it named Juan Melo headof crisis management for Latin America and the Caribbean. Melo joins the company'sMiami office and will focus on the complex risk exposures of war and terrorism,and kidnap and ransom insurance.

* Lloyd's of LondonChairman John Nelson told BNamericas that roughly 8% of the company's businessis in Latin America and the Caribbean, while Mexico is its largest market in theregion.


* TheJapanese government is considering offeringup to ¥3 trillion in near-zero interest rate loans for private sector companiesfor infrastructure programs amid significantly lower funding costs due to the Bankof Japan's negative interest rate policy, Tokyo's The Nikkei reported.

* Ravi Menon,managing director of the MonetaryAuthority of Singapore, said the country will begin to regulate fintech companies only when they growenough to pose significant risks to the financial system, Bloomberg News reported.

* A Spanishcourt ordered the release of Industrial& Commercial Bank of China Ltd. executives Liu Gang and Liu Wei, who were arrestedin February as part of a money laundering investigation into the Chinese lender,Reuters reports. The court decided that there was no flight risk, but the two executiveswill be unable to keep their passports and will have to appear in court regularly.

* looks to adopt a seven-dayreverse repurchase rate as its new benchmark rate to enhance the effectiveness of its policies, Bloomberg Newsreported, citing "people familiar with the matter." Indonesia's centralbank will replace its current reference rate that is not tied directly to moneymarkets, according to a plan to be announced April 15.

Matthew Crazecontributed to this article.

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