World Bulletin / News Desk
Argentina replaced its navy chief on Monday as it investigates the seizure of a frigate in Ghana by bondholders who say they will not release the vessel until the South American country repays money owed them after its 2002 debt default.
The Libertad, a training frigate with some 300 crew on board, was detained in the Ghanaian port of Tema on Oct. 2 under a court order obtained by NML Capital Ltd, an affiliate of investment firm Elliott Management.
The firm says Argentina owes it over $300 million on defaulted debt and it will only release the ship if the country pays it at least $20 million.
The Defense Ministry replaced navy chief Carlos Alberto Paz soon after removing two other senior officials as part of a probe into who was responsible for the ill-fated decision to stop in Ghana, a Ministry statement said.
President Cristina Fernandez's government has condemned the ship's detention, saying it could not be targeted by creditors due to its military nature. A Ghanaian court ruled that Argentina forfeited such immunities when it issued the bonds.
Fernandez dispatched several senior officials to Accra to resolve the stand-off as recriminations mount over why Ghana was included on the vessel's tour of the region.
Argentina declared a massive sovereign default a decade ago at the height of an economic crisis and now faces a raft of lawsuits in U.S. courts by so-called holdout bondholders seeking state asset freezes to recover the value of defaulted bonds.
The bondholders, which the Argentine government calls vulture funds, normally target foreign bank accounts held by state-run companies or government agencies.
Kindergarten has turned into orphanage after becoming home to tens of children who lost one or both parents in Syria's civil war
Some 10,000 Somali refugees living in eastern Kenya's Dadaab refugee camp are expected to be repatriated within six months
Human rights groups send open letter to president over prosecution of father accusing soldiers of shooting 14-year-old
Hamas spokesman Sami Abu Zuhri said reports that Saudi Arabia had called certain Hamas officials to voice its displeasure with the visit were unfounded
Parliament urged the government to expedite the process of tabling electoral reforms as lack of quorum derails debates.
28,000 soldiers will be used to secure polling stations while another 8,000 will be deployed for emergency reaction.
Twin bombs in Yemen's western city of Al-Hudaydah resulted in the death of an unconfirmed amount of people and scores were of people were injured.
Conviction against Huugjilt, 18, overturned almost 2 decades after execution for crime which serial rapist confessed to in 2005.
The Egyptian army said Thursday that it had killed nine "terrorists" and arrested 12 others within the past two days in the northeastern Sinai Peninsula.
Some Jewish organizations had called on settlers to storm the Al-Aqsa compound, especially on Sunday and Monday, according to the Palestinian NGO.
The United Nations launched its biggest ever humanitarian appeal for Syria on Thursday, seeking $8.4 billion after only securing about half the funding it asked for in 2014.
The union said that cabinet ministers in the Palestinian unity government had promised the cleaners that it would work on resolving their grievances within the next two weeks
Bosnia lifts visa requirements for citizens of 10 countries, bringing total number to 72.
European Union foreign policy chief Federica Mogherini urged Russian President Vladimir Putin on Thursday to radically change his attitude to the rest of the world and be more cooperative.
European Union has 'shot itself in the foot' by isolating Palestinian group, says analyst.
Cheyney's fiscal problems - students who are unable to repay debt and increasing pension costs - were exacerbated by cutbacks in state higher education funding.