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Thursday, 31 July 2014

Argentine debt


andycoles64.blogspot.com

Argentine debt talks end in failure


Last-minute talks in New York between Argentina and a group of bond-holders to avoid the country defaulting on its debt have ended in failure.
So-called "vulture fund" investors are demanding a full pay-out of $1.3bn (£766m) on bonds they hold.
Argentina has said it cannot afford to do so, and has accused them of using its debt problems to make a big profit.
A US judge set a deadline of 04:00 GMT on Thursday for a deal. The crisis stems from Argentina's 2001 default.
Late on Wednesday evening, Argentina's Economy Minister Axel Kicillof said the investors had rejected the government's latest offer.
"Unfortunately, no agreement was reached and the Republic of Argentina will imminently be in default,"

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