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US hopeful Argentina can reach deal with holdout creditors

Argentinian Finance Minister Alfonso Prat-Gay, pictured on January 14, 2016, offered $6.5 billion to settle a long debt dispute and US court case that have roiled global sovereign debt marketsThe United States voiced optimism Sunday that Argentina will be able to settle its long debt battle with “holdout” creditors, following a landmark offer from Buenos Aires. Argentina’s new government offered $6.5 billion Friday to settle the dispute and US court case that have roiled global sovereign debt markets while harming Argentina’s ability to access international capital to fund its economy. US Treasury Secretary Jacob Lew spoke by telephone Sunday with Argentine Finance Minister Alfonso Prat-Gay, to express American support.

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