Argentina Threatens to Default

UH OH

Updated Apr. 14, 2017 3:46PM EDT / Published Jun. 19, 2014 7:27AM EDT

Enrique Marcarian/Reuters

After the U.S. Supreme Court declined an appeal by Argentina in its fight against hedge funds refusing to restructure its payments, things have only gotten worse for the financially troubled country. The multiple rulings against Argentina “make it impossible to make the next payment” Argentina’s economy ministry said late Wednesday. Basically, Argentina now has to pay both the holders of restructured bonds as well as the hedge funds, which may total as much as $15 billion, or more than half the country’s reserves.

Read it at Reuters

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Argentina Threatens to Default

Enrique Marcarian/Reuters