Argentina: Will pay all creditors in Buenos Aires

GMT 15:32 2014 Wednesday ,20 August

Arab Today, arab today Argentina: Will pay all creditors in Buenos Aires

Arab Today

Argentina said Wednesday it will pay all its creditors in Buenos Aires, both those who agreed to a write-down after the country's 2001 default and the "holdouts" who have refused the restructuring.
The move aims to circumvent a US federal court ruling in favor of the holdouts that has blocked Argentina from servicing its restructured debt and forced it into a new default. It comes after President Cristina Kirchner said Tuesday that Argentina was replacing the New York bank responsible for transferring its debt payments to creditors.


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