Argentina requests court stay

After Argentine President Cristina Fernandez switched her policy on Friday of not negotiating with holdout creditors, Argentina is now looking for a court stay to avoid default.

The country is still battling the creditors who refused to take part in the debt restructurings after Argentina defaulted on $100B of debt in 2002.

Without the court stay, Argentina will not be able to fulfill the June 30 coupon payments on its restructured bonds, until it pays the $1.3B it owes to holdout creditors.


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Comments (2)
  • omarbradley
    , contributor
    Comments (966) | Send Message
    i think this is absolutely the right move on her part as the amount of energy resources that in theory could be coming out of Argentina over the next decade or so will more than easily "fit the bill." Without a doubt Argentina is the North Dakota of South America...just without the rock bottom interest rates to work with.


    Settling these debts can begin the process of producing and ultimately healing the truly unnecessary destruction of their currency and their economy.


    the time to take it to the speculators is now. the Fed is now winding down its QE program...matters such as these will only become more difficult with time without actions such as these.


    It will be interesting to see what Venezuela does now as a consequence. That one looks beyond salvaging for the time being.
    24 Jun 2014, 02:38 AM Reply Like
  • Patent News
    , contributor
    Comments (1475) | Send Message
    'take out the speculators'


    they are investors just like any of the other bond buyers from argentina.


    they must and will be repaid in full.
    24 Jun 2014, 05:55 AM Reply Like
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