World Business News

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Argentina warns of default on debt repayments at end of June

Zone(s): Argentina ¦ Sector(s): Taxation
[20 June 2014, CITY A.M.] By Michael Bird: Argentina’s government warned yesterday that it could not afford to pay its creditors at the end of this month, threatening a default after the US Supreme Court opted not to hear the country’s case again earlier this week.

The decision left the government with a $1.33bn (£780m) bill to pay at the end of the month to hold-out investors who did not accept writedowns during the country’s efforts to restructure its debt.

Previous rulings mean that the debts must be repaid before other creditors are reimbursed.

Read more at:
www.cityam.com/1403228023/argentina-warns-default-debt-repayments-end-june