Argentine debt mediator says time running short to avoid default

NEW YORK, July 24 Thu Jul 24, 2014 5:58pm EDT

NEW YORK, July 24 (Reuters) - Daniel Pollack, the court-appointed mediator in the debt dispute between Argentina and holdout creditors, said on Thursday he met separately with both sides but the issues separating the parties remain unresolved and time is running short to find a solution.

"After speaking with both sides, separately, I proposed and urged direct, face-to-face talks between the parties. The representatives of the Bondholders were agreeable to direct talks; the representatives of the Republic declined to engage in direct talks," Pollack said in a statement.

"The issues separating the parties remain unresolved at this time. The time for the Republic to avoid Default (July 30) is short," he said.

In his statement, Pollack said he expects further meetings over the next several days. Argentina faces a July 30 deadline to either reach an agreement with holdout creditors that allows bondholders who did participate in two prior restructurings to receive their money, now blocked by court-order, or for Argentina to default.

Pollack did not indicate when the next meeting would take place. (Additional reporting by Nate Raymond)

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