Argentina’s options shrink after U.S. debt ruling

Argentina's President de Kirchner addresses a news conference at the chancellery in BerlinBUENOS AIRES (Reuters) – A decade after staging the biggest sovereign default in history, Argentina faces another possible debt crisis after a U.S. court ordered it to pay $ 1.3 billion to holders of defaulted bonds. About 93 percent of Argentine bondholders agreed in 2005 and 2010 to swap defaulted debt from the 2002 default for new paper at a steep discount. So-called "holdout" creditors who rejected the swaps continue to battle for full repayment in international courts. In a ruling late on Wednesday, U.S. …

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