Lorenzino Says Argentina Not Facing Default, Pagina/12 Reports

Soaring costs for Argentine credit- default swaps aren’t a sign the country is heading toward default, Economy Minister Hernan Lorenzino said in an interview with newspaper Pagina/12.

Speculators are pushing the costs of Argentine credit- default swaps higher, Lorenzino told the Buenos Aires-based daily. The government will continue paying bondholders who agreed to debt restructurings in 2005 and 2010 while refusing to issue payments to holders of defaulted securities who are suing the country, Pagina/12 said.

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