Argentina Stock Market Closes Down on Fears of Debt Repayment

by Editor | June 20, 2014 2:22 am

BBC – Argentina’s stock market closed 4.9% lower on Thursday after the country’s cabinet chief said there would be no delegation to the US to negotiate with bondholders over a $1.3bn (£766m) debt.

Earlier this week, a US Supreme Court ruling sided with bondholders demanding Argentina pay them the amount in full.

Argentina defaulted on debts in 2001 following a severe economic crisis.

It has been in a legal battle with a number of US hedge funds which lent money to the country.

Many hedge funds have agreed to accept a partial repayment, but others, led by NML and Aurelius Capital Management, are demanding payment in full.

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