Argentina remains defiant follow court setback over debt payment

Argentina intends to continue paying bondholders on the same terms as it has been doing until now, Economy Minister Hernan Lorenzino has said.

Lorenzino was speaking in response to a U.S. appeals court decision to confirm a judge's order that Argentina repay $1.33B of debt in full to investors who refused to accept a haircut following the country's $100B default in 2001. Argentine law forbids such a payout.

The appeals court has refrained from implementing its verdict while the Supreme Court decides whether to take on the case, thereby averting a possible default in the near future.


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