How Argentina Settled a Billion-Dollar Debt Dispute With Hedge Funds

New Yorker ^ | 25 April 2016 | Alexandra Stevenson

[Lorianne]

Last week, Argentina successfully sold $16.5 billion in bonds to international investors, a record amount for any developing country. And on Friday, Elliott and the other bondholders finally received their reward in the form of billions of dollars in repayment, representing returns worth multiple times their original investments.

“Today, we have put a definitive close to this chapter,” Alfonso Prat-Gay, Argentina’s economic minister, told an Argentine radio station on Friday.

[buckalfa]

Of course the article has no details, but why do I get the feeling that Janet Yellen and Obama are somehow involved.

[RetiredTexasVet]

So sad, Argentina had to pay its debts.

[CurlyDave]

So sad, Argentina had to pay its debts.

No they didn't. They sold more bonds and kicked the debts down the road.

Now on the bright side, they did pay off the original bondholders, but they just found a new bunch of fools.

[Axenolith]

With debt...

[RetiredTexasVet]

So Sad, Argentina had to pay its debts .... but found a bigger fool to start the scam again!