Argentina calls on US to rein in debt dispute judge

Argentine Economy Minister Axel Kicillof makes a statement to the media outside the offices of mediator Daniel Pollack July 29, 2014 in New YorkArgentina called on the US Wednesday to rein in a judge who granted two hedge funds a ruling blocking the country from servicing its restructured debt, causing it to default. Economy Minister Axel Kicillof urged the US government to intervene in the ongoing court battle, which has seen New York District Judge Thomas Griesa bar Buenos Aires from making payments to bondholders who accepted a 70-percent write-down without also paying the hedge funds the full $1.3 billion it owes them. It belongs to the bondholders,” Kicillof said of the $539 million debt payment that the judge’s ruling has frozen in a Bank of New York Mellon account. “Why doesn’t the United States government put limits on a judge?” he asked in comments to Radio del Plata.

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