Part-MVD-Mvd6639039-1-1-0

New year could resolve Argentine debt debacle, or not

The fine print Argentina blames for failed negotiations with disgruntled creditors expires Thursday, theoretically clearing the way for a deal to lift the country out of default — if the two sides want it. The RUFO clause is part of Argentina’s 2005 and 2010 debt restructuring agreements, hard-fought deals the South American country reached with creditors who agreed to take steep losses on their bonds after it defaulted on $100 billion in debt during its 2001 economic crisis. According to Buenos Aires, that meant it had no choice but to defy a US federal court ruling in favor of two American hedge funds demanding full payment on the defaulted Argentine bonds they bought for pennies on the dollar. Blocked by the court from paying its restructured debt until it settles the $1.3 billion dispute with the hedge funds, Argentina defaulted again on July 30.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
Russian Lawyer Who Met With Trump Jr. Linked To Group Hired By Democrats https://t.co/pm9NaKceA2 #backfire #leftwing https://t.co/17lD1bMNPr - 5 months ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article