Buenos Aires settles with creditors

摘要

Argentina has finally settled a dispute with bondholders that refused to restructure debt stemming from its historic $100bn default in 2001. The government paid the so-called “hold-out” creditors $9.3bn on 22 April, after issuing $16.5bn in new bonds just three days earlier. The hold-outs, which comprise over 200 investors, waged a decade-long battle against Argentina in US courts over their refusal to restructure the defaulted bonds. It was only after President Mauricio Macri succeeded Cristina Fernandez de Kirchner in December that the sides started to make progress in brokering a resolution. The final payment to the hold-outs is expected to reach $10.5bn.