NEW YORK: Argentine officials and holdout bondholders met separately with a US court-appointed mediator on Friday in New York but failed to clinch a deal to resolve a dispute that could trigger a default by Buenos Aires.
With the clock ticking toward a July 30 deadline, Argentina needs to reach an agreement on paying more than $1.3bn claimed by hedge funds, mainly NML Capital and Aurelius Management, which refused to join other bondholders in the 2005-2010 restructuring of the country’s defaulted debt.
“The parties, including representatives of the Republic of Argentina and representatives of the bondholders, together with their respective lawyers, came to see me this afternoon,” said attorney Daniel Pollack, appointed by US District Judge Thomas Griesa to break the impasse.
“They each presented their positions to me, but not in the presence of the other side. No resolution has been reached. It is my hope that there will be future dialogue,” he added in a statement.
Argentina sent to the meeting a team of three senior officials from the Economy Ministry, in addition to members of its legal representatives in New York.
“The Argentine Republic is willing to continue with a dialogue that allows reaching a solution in fair, equitable and legal conditions for 100 percent of the bondholders,” the Economy Ministry said in a statement.
In a notice published in major Argentine newspapers Friday, President Cristina Kirchner’s government accused the hedge funds and Judge Griesa of wanting to drag the country into defaulting on the payments.
On Monday, Economy Minister Axel Kicillof led a delegation from Argentina in a four-hour meeting with Pollack, also without the presence of representatives of the hedge funds. AFP
