Key players in Argentine debt talks arrive for last-minute deal making
- 10 years ago
ROUGH CUT (NO REPORTER NARRATION)
STORY: Argentina was in a race against time on Wednesday (July 30) to cut a deal by the end of the day with holdout investors demanding repayment on bonds they purchased in 2002. Without a deal, Argentina was faced with a debt default for the second time in 12 years.
A surge in the country's bond prices fed optimism that an agreement was possible.
Attorneys for holdout hedge funds awarded $1.33 billion plus interest by a U.S. court arrived for talks at the New York offices of court-appointed mediator Daniel Pollack on Wednesday morning, with hours to go Argentina faces its second default in 12 years. Pollack arrived shortly thereafter.
"It's a beautiful day. It will be a more beautiful day if the parties reach an agreement," Pollack told Reuters as he entered.
Argentine Economy Minister Axel Kicillof arrived shortly after 11 a.m. EDT (1500 GMT) for the talks.
The holdout funds are demanding demand full repayment on b
STORY: Argentina was in a race against time on Wednesday (July 30) to cut a deal by the end of the day with holdout investors demanding repayment on bonds they purchased in 2002. Without a deal, Argentina was faced with a debt default for the second time in 12 years.
A surge in the country's bond prices fed optimism that an agreement was possible.
Attorneys for holdout hedge funds awarded $1.33 billion plus interest by a U.S. court arrived for talks at the New York offices of court-appointed mediator Daniel Pollack on Wednesday morning, with hours to go Argentina faces its second default in 12 years. Pollack arrived shortly thereafter.
"It's a beautiful day. It will be a more beautiful day if the parties reach an agreement," Pollack told Reuters as he entered.
Argentine Economy Minister Axel Kicillof arrived shortly after 11 a.m. EDT (1500 GMT) for the talks.
The holdout funds are demanding demand full repayment on b