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Argentina pays 'vulture funds' to end debt saga

Argentina repaid the so-called “vulture funds” Friday that sued it over billions of dollars in defaulted bonds, ending a 15-year saga and restoring its good standing on international credit markets. The payment ends a decade-long battle in the US federal courts and should enable the South American country to finally lay to rest the ghost of its 2001 default, the largest in history at the time — nearly $100 billion. “The republic has made full payment in accordance with the specific terms of each such agreement” with holdout creditors who had successfully sued the country, Argentina’s lawyer said in a statement to the court.

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