Argentina's Default Strategy Raises Debt Acceleration Risk

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Argentina's Default Strategy Raises Debt Acceleration Risk

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Argentina's Default Strategy Raises Debt Acceleration Risk

by Wochit 0:41 mins

Argentina's Default Strategy Raises Debt Acceleration Risk

by Wochit 0:41 mins

Argentina's plan to restructure its external debt to skirt a U.S. ruling that prevented it paying its creditors boosts the risk of investors demanding the accelerated payment of their bond holdings. Its second default in little over a decade opened Latin America's No. 3 economy to the possibility of creditors declaring the principal value of their bonds and interest due immediately - a process known as acceleration. An acceleration could leave Argentina facing claims of up to $30 billion, more than the government holds in foreign reserves.

Wochit