Argentina starts talks with hedge fund holdouts

Argentina's new conservative president, Mauricio Macri, has rolled back various protectionist policies of his predecessors, lifting currency and export controls and eliminating electricity subsidiesArgentina’s new government began negotiations with hedge fund creditors Monday, amid reports it wants them to write off up to a quarter of their bonds to settle a long-running dispute. Finance Secretary Luis Caputo arrived Monday morning at the New York offices of the US court-appointed mediator Daniel Pollack in a fresh effort to end a debt battle rooted in the country’s $100 billion default in 2001. Business newspaper El Cronista meanwhile reported that the reduction sought would be about 25 percent.

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