Argentina Gains Breathing Room Despite Loss

Aug 26, 2013

Argentina was seen as gaining a bit of time in Friday’s US court decision rejecting its appeal of a previous order to pay houldout creditors. The court said it would delay enforcement to allow the US Supreme Court to determine if it might hear the case. The decision, awaited for months, means the sovereign is still required to pay holdout creditors demanding $1.33bn just as it pays its restructured bondholders. “The second district appellate court...

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