Argentina has floated a new plan to repay its creditors domestically and avoid the jurisdiction of a U.S. court which sent the country into default. A U.S. judge blocked Argentina from making any repayments without also repaying vulture funds led by billionaire Paul Singer. The firms have demanded full repayment after buying Argentina’s debt for bargain prices after its financial crisis. The Argentine government has sent its congress a bill to service the debt through its own central bank instead of through the Bank of New York Mellon.
Argentina Seeks to Pay Debts Domestically, Averting U.S. Court
HeadlineAug 21, 2014