Arab Today, arab today argentina reaches deals with more holdout creditors
Last Updated : GMT 05:13:31
Arab Today, arab today
Arab Today, arab today

Argentina reaches deals with more holdout creditors

Arab Today, arab today

Arab Today, arab today Argentina reaches deals with more holdout creditors

Argentine President Mauricio Macri (R)
New York - AFP

Argentina reached repayment deals with more holdout creditors Wednesday as it seeks to close the door on 15 years of litigation over its defaulted bonds.

Daniel Pollack, the New York court-appointed arbitrator in cases involving some $9 billion in claims against the country, said settlement agreements were struck with hedge fund GMO (Boston), French bank BNP Paribas, and a number of individual investors worth a total of $190 million.

That took to more than $6.5 billion the amount Argentina has agreed to pay holdout creditors covered by the Pollack-led negotiations.

It was not clear how much more have not been addressed. Breaking with years of refusal by Buenos Aires to repay the holdout bondholders, at the beginning of February the new government of President Mauricio Macri offered $6.5 billion to resolve their claims of $9 billion.

The holdouts are the minority of creditors which refused to go along with the restructuring of the country's debt after it defaulted on nearly $100 billion in 2001.

The main holdouts were hedge funds which bought up the defaulted debt at steep discounts aiming to recover the full value, and in 2012 the New York federal district court ruled in their favor.

Since then the country has been mostly locked out of global capital markets and Macri, tasked with reviving the Argentine economy, has vowed to pay off the creditors and move forward.

"Both the range and diversity of these settlements are encouraging to me," said Pollack.

The settlements remain contingent on the Argentine Congress cancelling laws that prevent repayment of the holdouts.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today argentina reaches deals with more holdout creditors Arab Today, arab today argentina reaches deals with more holdout creditors

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday