Argentina to negotiate with debt mediator again

|By:, SA News Editor

Argentina will meet with court appointed debt mediator Daniel Pollack for the second time this week to discuss its dispute with holdout investors. The country is trying all it can to avoid a debt default by the end of the month.

U.S. District Judge Thomas Griesa previously blocked a June 30 coupon payment that Argentina tried to make on its restructured bonds, triggering a 30 day grace period for the country to finally negotiate with holdouts.

Benchmark Discount bonds rose 1.6% to 88.65 on Argentina's local over-the-counter market, while Par bonds were up 1.3% to 49.90. Traders cited optimism over the talks as the cause of the increase.

ETFs: ARGT