Argentina faces a race against time on Wednesday as its deadline to strike a deal and avert a second default in 12 years approaches.» Read More
BUENOS AIRES, July 30- Argentina faced a race against on time on Wednesday to avert its second default in 12 years, needing either to cut a deal by the end of the day with "holdout" investors suing it or to win more time from a U.S. court to reach a settlement.
BUENOS AIRES, July 30- Argentina faced a race against on time on Wednesday to avert its second default in 12 years, needing to either cut a deal by the end of the day with "holdout" investors suing it or win more time from a U.S. court to reach a settlement.
NEW YORK/ BUENOS AIRES, July 29- Holders of Argentina's euro-denominated exchange bonds urged a U.S. judge on Tuesday to suspend a debt ruling in favor of holdout investors suing the country that risks toppling Latin America's No. 3 economy into default. Argentina has until the end of Wednesday to either fulfill a ruling by U.S.
Argentina's stock market surges on optimism for avoiding default. CNBC's Kate Kelly reports the details.
ARGENTINA'S JUNE 30 DEBT PAYMENT STILL HELD BY BANK OF NEW YORK MELLON IN BUENOS AIRES- CENTRAL BANK SOURCE.
NEW YORK/ BUENOS AIRES, July 29- Argentine debt negotiators held talks in New York on Tuesday with the U.S. mediator in the South American country's battle with holdout investors, in a last-ditch attempt to avert a default.
BUENOS AIRES, Argentina— Argentina risks financial default unless it reaches an agreement with a group of holdout bondholders by Wednesday. The swap, however, failed to resolve Argentina's troubles. Argentina's government lined up two more swaps in 2005 and 2010, offering existing creditors new bonds worth much less than the old ones.
Argentina is refusing to negotiate with a small group of bond investors who are owed billions of dollars dating from debt they purchased from before the country's last default in 2001, with CNBC's Kate Kelly.
Argentina is out of legal options to avoid paying a court-ordered $1.33 billion, plus interest, to the holdout creditors who declined to restructure their bonds.
Argentina could be back in the economic doldrums if it defaults on Wednesday, a key player in its 2010 debt restructuring told CNBC.
The concepts of 'Logic will prevail' and 'Argentina' don't necessarily go together, says one portfolio manager.
Carlos Caicedo, principal analyst at IHS Country Risk, says that Argentina defaulting and then restructuring its debt a few months later could lead to capital flight, currency fluctuations and social unrest.
Hans Humes, founder and CEO of Greylock Capital, discusses Argentina's bond woes and says holdout bondholders need "some kind of gesture" from the country.
NEW YORK, July 28- Argentina has fought in court for a dozen years against the claims of holdout investors in its defaulted debt, and Argentina has lost. Argentina defied court-ordered demands to pay all its bondholders by a June 30 deadline, and a 30- day grace period runs out this week.
BUENOS AIRES, July 29- Factory owner Norberto Garcia was poised to launch a series of new toys this year after grafting hard for the past decade to rebuild his business following Argentina's 2001-2002 economic crash and debt default. Rather than sink 2.8 million pesos into expanding production lines, he plans to cap the investment at 1.8 million pesos.
BUENOS AIRES/ NEW YORK, July 28- Argentina on Tuesday will meet the U.S. mediator in its battle with' holdout' debt investors suing the country for last-minute talks to avert its second default this century.
Argentina will likely default on its debt for the third time in 28 years on Wednesday, which could cost U.S. hedge funds millions.
News that the mediated meeting with holdout creditors was over after only one hour sent Argentina's bonds reeling.
BUENOS AIRES, July 28- Argentina will send a negotiating team to New York on Monday for further talks with a U.S. court-appointed mediator in a debt dispute with' holdout' investors, cabinet chief Jorge Capitanich said, with just three days to go to avert a default.
But the mediator, Daniel A. Pollack, said in a statement that while the Argentines would meet him, they had not yet accepted his recommendation of face-to-face talks with the plaintiffs in the dispute, led by New York billionaire Paul Singer's NML Capital Ltd.. District Judge Thomas Griesa has forbidden Argentina to pay them unless it also pays the holdouts.