Economics
Argentina Has Two Weeks for Debt Deal After Court Rejection
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Argentine Economy Minister Axel Kicillof, who negotiated $15 billion of payments to resolve debt disputes in the past four months, has two weeks to pull off his toughest deal yet.
The country’s bonds plunged today after the U.S. Supreme Court decided against hearing Argentina’s appeal of an order requiring it to pay holders of defaulted notes from 2001 in full when making payments on its restructured debt. The next payment comes due June 30, giving Kicillof limited time to reach a settlement with holdouts and avoid a new default.