Argentina ‘Greek Tragedy’ Nears End as Debt Ruling Looms
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Argentina may learn at any time whether a U.S. appeals court will rule that it must pay $1.4 billion to holders of its defaulted debt, something the South American country has resisted for more than a decade.
The court in New York is set to rule after Argentina submitted a payment proposal last week that would force holders of defaulted bonds to take a steep discount on debt the nation repudiated in its record 2001 default on $95 billion. With further appeals unlikely to succeed, the ruling may be the last word on the matter.