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Argentine Senate to vote on settling big foreign debts

People demonstrate outside the National Congress in Buenos Aires, on March 15, 2016, against the bill aimed at putting an end to Argentina's 15-year battle in US courts over debt defaultArgentina’s Senate votes Wednesday on a deal to repay disgruntled creditors, as the government seeks to end a 15-year battle in the US courts over a catastrophic debt default. The bill paves the way for the government to pay billions of dollars to so-called “holdout” creditors that rejected Argentina’s efforts to restructure the debt it defaulted on in 2001. Conservative President Mauricio Macri’s administration has called the deal bitter but necessary medicine to end the country’s status as a pariah on international capital markets.

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