US court clears Argentina to pay hedge funds in debt battle

View of the Congress in Buenos Aires, Argentina on March 1, 2016A US federal appeals court on Wednesday cleared Argentina to make payments on its debt, paving the way for the country to settle its long battle over bonds defaulted in 2001. Argentina will thus be able to follow through on settlement deals with holdouts over some $9 billion in claims. The appeal had held up the country’s plans to raise some $12.5-15 billion on global capital markets needed to pay off the creditors, who have battled for full compensation for their bonds for years.

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