Argentina says holdout deal “impossible” by July 30

Argentina says holdout deal “impossible” by July 30

Bonds

Argentina said on Tuesday it would be “impossible” to avoid a default after Judge Thomas Griesa declined to postpone effect of a ruling that calls for a $1.5bn payment to holdout creditors led by NML Capital. Griesa said he did not consider that the stay would help the parties to reach an agreement. Instead he ordered them to hold “continued” talks. It will be “impossible” to reach a deal with NML Capital before July 30, when Argentina will be declared in default for failing to pay the holders o

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