Argentina will press a U.S. judge to unfreeze a coupon payment to holders of the country's restructured debt as a condition of negotiating with 'holdout' creditors suing for full repayment, a government official said on Wednesday. Latin America's No. 3 economy has been pushed to the brink of a fresh default by a string of U.S. court decisions that have forced it to negotiate with holdout investors who declined to restructure their bonds after the country's 2002 debt crisis. "These conditions will naturally include our objective of respecting the restructuring of 92.4 percent of our debt and generating fair conditions for all creditors," Cabinet Chief Jorge Capitanich told a news conference. Argentina tried to make a coupon payment on its restructured debt on Monday but payout was blocked by U.S. District Court Judge Thomas Griesa in New York, who said the government must reach a deal with holdouts before any more payments on restructured bonds can go through.
via Business News - Yahoo Finance http://ift.tt/1jJIIPb
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