BUENOS AIRES: Argentina will pay holders of its restructured sovereign debt thanks to a bill passed by its Congress last week despite a US court ruling, the country’s economy minister told a local radio show.
“With the law we have assured that the next coupon payment, due in a few days at the end of September, will be once again paid by us. So there can be no talk of default,” Axel Kicillof said on Radio Nacional Rock.
Argentina’s Congress passed a bill on Thursday designed to enable the government to resume debt payments to bondholders in defiance of a US court ruling that tipped the country into default earlier this year.
The ruling allows the government to make payments on an estimated US$29bil in foreign-held bonds either in Argentina or elsewhere out of US jurisdiction.
The government is racing against the clock to make a US$200mil coupon payment due on Sept 30. — Reuters