Frozen in Debt, Argentina Criticizes US Investors

Published on 9 May 2015, 2:54
Argentina is sharply criticizing a group of investment funds in the U.S. for freezing assets in the South American country's embassy in Belgium. Economy Minister Axel Kicillof said Friday that 52,000 euros ($56,000) had been frozen in an account belonging to the Argentine Embassy in the European country. In 2005 and 2010, the majority of creditors accepted bond swaps with lower payments, but a group led by billionaire Paul Singer took their case to court. A US District Court judge has repeatedly ruled that Argentina can't pay its restructured debt without also paying the holdout creditors.
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