Argentina President Wants to Negotiate With Creditors

Argentina’s President Cristina Fernandez de Kirchner has said her government would negotiate with all the country’s creditors.

It comes amid signs that Argentina may start talks with investors who refused to take part in two restructurings.

Argentina has been in a bitter row with hedge funds which are demanding full payment for bonds they bought after the country defaulted.

“We want to pay 100% of creditors,” the president said on Friday.

Argentina has for years refused to even consider talks with so-called “hold-out” creditors whom Ms Fernandez has called “vultures”.

The country has been in a 12-year fight in the US courts with hold-outs who declined to participate a 2005 and 2010 revamp of debt securities.

Under the deal, 92% of bondholders accepted about a third of the original value of their investment.

But on Monday, a US Supreme Court ruling sided with bondholders demanding Argentina pay them the full $1.3bn (£766m) value.

The bondholders also won the right to use the US courts to force Argentina to reveal where it owns assets around the world.

The court’s decision means that bondholders should find it easier to collect their debts.

Ms Fernandez made her comments during a speech celebrating Argentine Flag Day.

via BBC

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