Without a stay on a ruling against the country by U.S. District Judge Thomas Griesa, Argentina would be unable to make a June 30 coupon payment on its restructured bonds unless it also pays $1.33 billion to holdouts seeking full payment of the debt they hold.
"We consider it essential that Judge Griesa issue a stay so that the Republic of Argentina can continue paying the holders of restructured bonds," Kicillof told reporters.
Argentine President Cristina Fernandez on Friday reversed her long-held policy of shunning negotiations with the holdouts, sparking a rally in local stocks, bonds and the currency on Monday.
Read MoreArgentina mulls payment to holdout creditors: Report
Griesa has appointed a special master to assist with possible talks between Argentina and holdouts. A court official in New York said no hearing was scheduled for Monday.