Argentina Debt Default

Argentina: Ratings agency Standard Poor declared Argentina had entered what known as "selective default" after failing to make a deal with creditors on a $539-million bond payment. , according to Canadian Broadcasting Corporation, CBC. With interest, the value of the loans could be as much as $1.5 billion. Debt talks between U.S. hedge funds and Argentina collapsed late Wednesday, and the country entered its second default since 2001. Argentina debt default imminent, warns mediator Argentina, on verge of debt default, meets with U.S. bondholders Argentina stops payment on foreign debt Technically, that means the bondholders have the right to demand immediate and full repayment. But that unlikely to happen, as any drastic action would worsen the country finances and make it unlikely that any lenders would get all their money back, much less turn any profit. (news.financializer.com). As reported in the news.