Default It Is, Is It Not?

ARGENTINA - Report 31 Jul 2014 by Esteban Fernández Medrano
This Market Brief was originally issued on July 31, 2014 as a post on GSP Direct, the GlobalSource Partners interactive webtool providing clients an initial response to breaking news and developments. The fact that the Economic Minister, Axel Kiciloff, joined the Argentine negotiation team yesterday, and that local banks declared they are willing to make an offer to buy the Holdouts’ legal claims, suggested that the likelihood of a temporary agreement to reinstall the “stay order” until the end of the year was closer than it seemed over the last weeks. Therefore the result of Kiciloff’s neg...

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