Argentina says hedge funds seek delay on debt offer

Argentina's Finance Secretary Luis Caputo speaks with the media while exiting the office of US mediator Daniel Pollack, in New York on January 13, 2016Argentina said Wednesday the bondholders with whom it recently restarted talks on paying billions of dollars in defaulted debt have asked it to postpone its repayment proposal to February. The country’s new conservative government had announced plans to present its proposal next week for the repayment of some $10 billion owed to so-called holdout creditors refusing to accept a debt restructuring deal. US federal judge Thomas Griesa has derailed Argentina’s efforts to restructure the debt it defaulted on during its 2001 economic crisis, ruling the country cannot repay creditors who agreed to take heavy losses until it first repays the holdouts.

Share this article