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| Caribbean-Latin America |
| Argentina in 11th-hour talks as default looms |
| 2014-07-31 |
| [NEWS.YAHOO] Argentina was locked in 11th-hour talks on Wednesday to seek a deal with "holdout" creditors and stave off a crippling new default -- the second in 13 years -- at day's end. Buenos Aires had until midnight to resolve its dispute with two US hedge funds whose refusal to accept a write-down on debt it defaulted on in 2001 has pushed Latin America's third-largest economy to the brink of a new crisis. Argentina is due to make a $539 million payment on its restructured debt by Wednesday, the end of a 30-day grace period. But a US court has blocked it from doing so unless it also pays the hedge funds, NML Capital and Aurelius Capital Management -- a ruling Buenos Aires says jeopardizes its entire debt restructuring deal. Argentine Economy Minister Axel Kicillof and his team made no statement as they arrived Wednesday morning at the offices of the US court-appointed mediator tasked with breaking the impasse. |
| Posted by:Fred |
| #2 Who's fooling who here. They have no intention of paying back on any conditions they money they took. Anyone or any organization that gave them money after the last default are equally fools and have wasted their resources like anyone in Vegas or Atlantic City. Take your game elsewhere. They gambled. They lost. Now go cry and leave the rest of us alone without the drama. |
| Posted by: Procopius2k 2014-07-31 08:59 |
| #1 "Malvinas!" |
| Posted by: Frank G 2014-07-31 07:39 |