Argentina Countdown to July 30 Deadline: Default or Boom
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Argentina is set to default in less than two weeks unless it reaches a deal with holders of defaulted bonds or U.S. courts grant a delay to allow the nation to continue servicing restructured bonds.
U.S. Judge Thomas Griesa blocked the country’s attempt to make a June 30 bond payment, saying it must also comply with an order to pay $1.5 billion to hedge funds and other holders of defaulted bonds that sued for full repayment. As the 30-day grace period winds down, here are three possible outcomes: