July 30 Argentina Economy Minister Axel Kicillof
on Wednesday said the country offered a group of holdout
creditors the same reduced payment terms it has agreed to pay
other holders of its restructured bonds, but the holdouts
refused the offer.
The holdouts, a group of hedge funds that bought the bonds
at a steep discount following Argentina's default on $100
billion of debt in 2002, also refused to ask a U.S. court to
stay an order the blocks Argentina from paying its other
creditors, Kicillof said at a press conference at Argentina's
consulate in New York.
His comments followed two days of intense talks between
Argentina and the hedge funds at the offices of a
Without a stay of U.S. District Judge Thomas Griesa's order
preventing Argentina from making the July 30 deadline -
representing the end of a 30-day grace period - for a coupon
payment on exchanged bonds, the country will fall into default
for the second time in 12 years.
(Reporting by Dan Burns, editing by G Crosse)