The International Swaps and Derivatives Association has been asked to make a ruling on whether a credit event has occurred in Argentina. CNBC's Kate Kelly reports the details.» Read More
*Tuesday's talks were first between hedge funds and Argentina. BUENOS AIRES/ NEW YORK, July 30- 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's bond prices fed optimism that an agreement was possible.
BUENOS AIRES, July 30- Argentina was in a race against time on Wednesday to cut a deal by the end of the day with holdout investors who are suing it and to avert its second debt default in a little over a decade. Here are some of Argentina's crises through history:.
NEW YORK— Talks aimed at averting Argentina's second default in 13 years ended with bitter recriminations Wednesday as the South American country said it could not accept a deal with U.S. hedge fund creditors it dismisses as "vultures."
Argentine banks are expected to offer to buy debt owned by holdout investors suing country in a bid to avert default, a banking executive said.
Argentina faces a race against time on Wednesday as its deadline to strike a deal and avert a second default in 12 years approaches.
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.
Nicholas Watson, Latin America analyst at Teneo Intelligence, says an Argentine default is the most likely scenario, but that and eleventh-hour deal could still be reached.
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.
Mark Mobius, Executive Chairman of Templeton Emerging Markets Group, says investors' preferences for assets over cash may be the factor that's fueling a rally in Argentine stocks.
Tim Seymour, CIO of Triogem Asset Management, explains why Argentina will likely enter a technical default.
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.