Argentina faces default threat after US Supreme Court ruling

Argentina faces default threat after US Supreme Court ruling

The US Supreme court on Monday upheld a ruling by a lower court that calls for Argentina to pay holdout creditors before servicing the restructured debt stemming from the country’s 2002 default. The decision comes just days before the next coupon payment is due on the restructured bonds, meaning the sovereign may end up defaulting on those instruments if it does not first strike a deal over $1.33bn owed to holdout creditors led by NML Capital. The sovereign’s bonds and CDS reacted sharply on Mon

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