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Sep 10, 2014

Argentina says U.N. vote vindicates its debt fight against ‘vultures’

BUENOS AIRES, Sept 10 (Reuters) – The Argentine government
said Wednesday that its refusal to repay a group of U.S. hedge
funds that stand to profit on the country’s defaulted debt was
vindicated by the United Nations’ support for a multilateral
plan handling bond restructurings.

The lengthy legal battle between Argentina and the
investment funds that snapped up its bonds on the cheap after
its record 2002 default and are suing for 100 cents on the
dollar led to the Buenos Aires government defaulting again in
July.