Originally published on Wed July 30, 2014 1:43 pm
An American judge has ordered Argentina to make debt payments of $1.5 billion to American creditors. But time is running out.
If Argentina doesn’t pay the U.S. hedge funds by midnight, it will default on its bond payments for the second time in 13 years. The last default, in 2001, led Argentinians to protest the declining economic conditions in their country.
Bloomberg News’ Michael Regan joins Here Now’s Jeremy Hobson to discuss what this could mean for the Argentinian economy and the American hedge funds who took a gamble buying up Argentina’s risky bonds.
Guest
- Michael P. Regan, editor-at-large at Bloomberg News. He tweets @Reganonymous.
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