Argentina calls for bond swap, attempts to dodge U.S. court

|By:, SA News Editor

Argentina is looking to push bondholders to swap defaulted debt for new notes, in order to dodge a U.S. ruling that prevents the government from paying creditors.

Argentina's last interest payment of $539M was blocked by a NY court, resulting in the country's sovereign default on July 30.

President Christina Fernandez has continued to argue that Argentina is not in default, and has called for a new bond swap as a result of the ruling.