Argentina Warns of Debt Woes If $1.5 Billion Award Not Reversed
- UK court hears Argentina’s appeal over growth-linked bonds
- Argentina battling another recession amid shock therapy
The National Congress building in Buenos Aires.
Photographer: Luis Robayo/AFP/Getty ImagesThis article is for subscribers only.
Argentina risks struggling to service some of its debt if it’s forced to pay out $1.5 billion in damages a UK court awarded to investors last year, lawyers for the South American nation have warned.
Hedge funds including Palladian Partners LP last year won a UK High Court ruling that Argentina must compensate investors for losses in the country’s growth-linked securities after it changed the method of calculating gross domestic product.