By a vote of 134 to 99, Argentina’s Congress voted into law the bill proposing a new debt swap, which would take place outside of U.S. 256 more words
Tags » Axel Kicillof
You can’t have a debt default without a morality tale, and Argentina’s is no exception. But who’s the villain?
The Vulture Funds
You haven’t lived if you haven’t heard Argentine financial minister Axel Kicillof rail against “los fondos buitres,” the investors who swept in after Argentina defaulted on its debt in 2001, buying up its bonds for as little as 20 cents on the dollar. 893 more words
Argentina has defaulted.
Argentine Finance Minister Axel Kicillof delivered the news to the world from Argentina’s consulate in New York City on Wednesday.
Kicillof had just finished a meeting in which he and a delegation from The Republic failed to satisfy the demands of a group of hedge fund creditors negotiating over $1.3 billion worth of debt owed to them for over a decade. 1,288 more words