Argentina bonds: The South American country economy minister, Axel Kicillof, was expected to speak at the Argentine consulate office in New York after several hours of talks, according to a spokeswoman. , according to Canadian Broadcasting Corporation, CBC. Argentina bonds surged 14 per cent to levels not seen in 3-1/2 years, its stock market hit a record, and the peso rallied, signals to some investors that a deal was attainable before another damaging default. Argentina was in a race against time on Wednesday to cut a deal by the end of the day with holdout investors suing it and avert a default, as a surge in the country bond prices fed optimism that an agreement was possible. Argentina facing default on $1.5B debt Argentina faces default risk as court orders $1.3B debt payback Argentina stops payment on foreign debt The holdout hedge funds want full repayment on bonds they bought on the cheap after the country last defaulted in 2002, a demand Argentina has so far rejected. Their attorneys, along with an Argentine delegation, met at the offices of court-appointed mediator Daniel Pollack in New York, with just hours to go until the deadline for an interest payment.
(news.financializer.com). As
reported in the news.
Tagged under , Argentina topics.