Argentina defies US again with bond payment

Oliver West

October 01, 2014 06:15 am

Cristina Kirchner, Axel Kicillof, Argentina — Argentine President Cristina Fernandez, right, speaks with Economy Minister Axel Kicillof during the ceremony for the 160th anniversary of the Buenos Aires Stock Exchange in Buenos Aires, Argentina, Wednesday, Aug. 20, 2014. Argentina's government is proposing to change the way it pays holders of the country's debt, shifting it out of the U.S. financial and legal systems as a way to end the default triggered by a legal battle with U.S. investors. (AP Photo/Victor R. Caivano) | Victor R. Caivano/AP/Press Association Images

For Argentina it is a sign of its dedication to paying creditors. For the US judge involved it is contempt of court. One thing is for sure: the South American state’s payment of its international bonds via a local account shows that a conclusion to Argentina’s debt saga is no nearer than it was when the sovereign defaulted on July 31.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request demo or Login

✔ 4,000 annual insights
✔ 700+ notes and long-form analyses
✔ 4 capital markets databases
✔ Daily newsletters across markets and asset classes
✔ 2 weekly podcasts

Topics

News content LatAm Bonds Emerging Markets LatAm

OW

Oliver West

US Bureau Chief - Latin America Editor