Argentina declared in default

Standard & Poor’s declared Argentina in default after the government missed a deadline for paying interest on $13 billion of restructured bonds.

31st July, 2014

Standard & Poor’s declared Argentina in default after the government missed a deadline for paying interest on $13 billion of restructured bonds.

The South American country failed to get the $539 million payment to bondholders after a US judge ruled that the money couldn’t be distributed unless a group of hedge funds holding defaulted debt also got paid.

Argentina, in default for the second time in 13 years, has about $200 billion in...

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