Argentine Debt Mediator Plans to Issue `Significant Statement'

  • Special master Daniel Pollack sends e-mailed statement
  • Argentine delegation, creditors held meetings this week

The mediator in Argentina’s negotiations with holdout creditors led by billionaire Paul Singer’s Elliott Management said he will release a "significant statement" Friday.

The e-mailed statement from mediator Daniel Pollack contained no additional details.

A delegation of Argentine officials led by Finance Secretary Luis Caputo has been in New York this week holding talks with Elliott and other hedge funds that successfully sued for full repayment of the debt they hold from Argentina’s $95 billion default in 2001. The creditors rejected the country’s past offers that imposed losses of about 70 percent.

A potential agreement with disgruntled creditors would pave the way for an end to Argentina’s isolation from international bond markets since its default.

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