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Lorenzino Says Holdouts Seek Default to Cash in CDS, Telam Says

Holders of Argentine defaulted bonds are expecting the government to be declared in “technical default” amid a legal battle in the U.S. in order to cash in credit-default swaps, Argentine Economy Minister Hernan Lorenzino said, according to state news agency Telam.

Argentina has the cash and the willingness to continue to service its debt held by investors who accepted bond restructurings following the country’s 2001 default, Lorenzino said in an interview aired by radio station Radio Continental, Telam reported.

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