Argentina to tap cbank reserves for $9.8 bln to pay debt-gov't source

BUENOS AIRES, Sept 12 Thu Sep 12, 2013 11:49am EDT

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BUENOS AIRES, Sept 12 (Reuters) - Argentina's government intends to use around $9.8 billion in central bank reserves to pay foreign currency-denominated debt, a government source told Reuters on Thursday.

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GermanHoldout wrote:
This would be for the Holdouts an acceptable solution:
I want on 01/01/2015 (the end of “Rights Upon Future Offers (RUFO)”) the capital of my bonds back to 100%. What could be negotiable, are the outstanding interest between 2002 and 2014.
The U.S. Supreme Court should as soon as possible (hopefully on 30/09/13) reject the Argentine complaint, and order immediate negotiations between Argentina and the Holdouts. The Argentine government and the holdouts should make still this year a binding agreement with respect to the time after (end of the “Rights Upon Future Offers (RUFO)” clause) with the advantage that seizure risks and a technical default would thus be averted.

Sep 13, 2013 8:21am EDT  --  Report as abuse
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