World Business News

A round up of the latest news for those doing business internationally

Argentina publishes US newspaper advert against ‘vulture funds’

Zone(s): Argentina, USA ¦ Sector(s): Economy, Finance

[23 June 2014, BBC News] The Argentine government has published an advert in US newspapers denouncing a recent court ruling in favour of hedge fund investors. The investors bought Argentine government bonds at a big discount after the country defaulted on its debts in 2001. Last week the US Supreme Court ruled that Argentina must pay the funds the full $1.3bn (£766m) value of the debt.

“Paying the vulture funds is a path leading to default,” says the advert. The full-page message was published in the weekend edition of the Wall Street Journal and also in the New York Times and Washington Post.