US court sets off new phase in Argentine bonds dispute

Traders at work in Argentina's Buenos Aires Stock Exchange (photo: dpa)
Traders at work in Argentina's Buenos Aires Stock Exchange (photo: dpa)

The long-running saga between the Argentine government and hedge fund creditors has been re-ignited in the US Court of Appeal. Its decision to give Argentina a matter of weeks to come up with a new formula to pay its debt has given the government a bit more breathing space, but the government does not want to pay more than it is paying those who hold restructured debt - and the ‘holdouts’ want more. If negotiations do not reach a conclusion, there is a slight chance Argentina could again fall into default.

THE Argentine government has been given until March 29, 2013, by the United States Court of Appeal to cut a deal with creditors who have been holding out for more than a decade to ...

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