Judge urges Argentina to pay 5.2 billion – Basler Zeitung

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Argentina will not get rid of his debt. An American judge sentenced the South Americans to additional payments of 5.2 billion dollars.

Argentina must also be paid to American creditors 5.2 billion: The Argentine Economy Minister Alex Kicillof, after a hearing in New York in July 2014.

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In the bitter debt dispute with two US hedge funds Argentina had to plug in another defeat. The many years entrusted with the case, US Judge Thomas Griesa ruled on Friday (local time) that Buenos Aires next to the two funds also around 500 additional creditors with claims of a total of 5.2 billion dollars (4.6 billion euros) in debt service must be a primary consideration. Buenos Aires called the recent ruling in the long standing dispute as “unlawful” and “regrettable”.

In the 26-page decision Griesa reiterated that the Argentine government only had to pay the two hedge funds Aurelius and NML Capital before it should settle overdue payments for Argentine debt titles. Among the priority to operate creditors now come be added the more than 500 other investors who were not covered by the judgment of the two funds of 2012. Thus the pressure on Buenos Aires takes again to clear. But the demands of the two funds amount to a total of 1.3 billion dollars.

The Fund had Argentine IOUs to state bankruptcy in late 2001 bought cheap and require the nominal value of government bonds, which rejects Buenos Aires. Unlike the fund over 90 percent of Argentina’s creditors had approved 2005 and 2010 a haircut and waived up to 70 percent of their money. The obligations towards them wants Argentina descendants. The debt dispute makes it difficult to come to the country increasingly in financial markets in fresh capital. (OFI / AFP)

Created: 06/06/2015, 15:44 clock