In its attempt to return to international capital markets, Argentina’s new government has succeeded in persuading two of its holdout bondholders to accept an agreement in principle to settle their claims. A further four continue to hold out. US District Judge Thomas Griesa has given the refuseniks until 18 February to explain why they have rejected the proposal, which in effect offers US$6.5bn to creditors who have filed claims for around US$9bn. The government wants the injunction - which currently bars it from tapping global financial markets - lifted, but to do so it needs both the approval of Griesa and Argentina’s federal congress.End of preview - This article contains approximately 1436 words.
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