TODAY’S TOP ARTICLES – 22 JUL 2014

Argentina: Argentina Asks to Delay Debt Payment Order
Argentina requested a U.S. judge to delay an order that requires it to make payments to bondholders who did no participate in the debt restructuring after the country’s default in 2002 while it looks for a global solution. (Source: Reuters)

Venezuela: China’s President Xi Jinping Signs Venezuela Oil Deal
Chinese President Xi Jinping has signed a series of oil and mineral deals with Venezuela. They include a $4bn (£2.34bn) credit line in return for Venezuelan crude and other products. (Source: BBC)

Hungary: Hungary Minister Sees Forex Loans Conversion at Year End: TV
According to a statement by the Hungarian economy minister, Hungarian banks will have to convert their foreign currency-denominated loans into local currency-denominated loans most probably at the end of this year. The legislation on the conversion is expected to be passed in parliament in autumn. (Source: Reuters)

Switzerland: Swiss National Bank, China Agree on a Currency-Swap Deal
China signed a bilateral currency swap agreement of CNY 150 billion (USD 24.2 billion) with the Swiss National Bank. The Swiss Central Bank can invest up to CNY 15 billion in China’s bond market. (Source: WSJ)

United Kingdom: George Osborne Presents Pension Reform
George Osborne has revised his plans to revolutionize pensions by saying private insurers would be barred from giving free advice to millions of customers who want to cash in their pension pot. They would be offered free independent financial advice by groups such as charities acting on behalf of the government. (Source: The Guardian)

For the latest economic indicators from around the world, please visit us at Focus-Economics.com.

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