BUENOS AIRES, June 17 Economy Minister Axel
Kicillof will announce later on Tuesday what Argentina will do
following a major setback in its long-running legal battle
against "holdout" investors.
The U.S. Supreme Court on Monday declined to hear
Argentina's appeal over its battle with hedge funds that refused
to take part in its debt restructurings. The court's decision
was unexpected and risks toppling Latin America's No. 3 economy
into a new default.
Kicillof will speak at 6 p.m. local time (2100 GMT), cabinet
chief Jorge Capitanich said during his morning press conference.
President Cristina Fernandez said on Monday that Argentina
would honor its payments to holders of its restructured debt and
so avoid a default, but did not say how.
Most experts expect Argentina to seek out a negotiated
agreement with holdout creditors.
The government likens the funds to vultures, and say they
swooped in and snapped up dirt-cheap bonds after the
catastrophic 2002 default that plunged millions of Argentines
Holdouts, who declined to participate in two restructurings
with other creditors, counter Argentina must pay up as per the
(Reporting by Jorge Otaola and Alexandra Ulmer; Editing by