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Argentina lawmakers back deal to repay holdout creditors

Argentinians demonstrate against the repaymnet deal to end to its long-standing legal battle against so called “vulture” funds suing the country over its defaulted bonds more than a decade agoArgentina’s chamber of deputies voted Wednesday to approve a repayment deal with holdout creditors, as the nation seeks to finally close the door on 15 years of litigation over its defaulted bonds. The vote was a major victory for conservative President Mauricio Macri, who had to persuade the opposition-controlled Congress to set aside political differences and swallow what his administration described as an unpalatable but inescapable deal to end the debt morass. After a marathon debate that lasted some 20 hours, the bill passed the lower house by a vote of 165 to 86, gaining support from moderate opposition lawmakers.

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