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Argentina says wants to normalize relations with foreign creditors
June 17, 2014 / 10:22 PM / 3 years ago

Argentina says wants to normalize relations with foreign creditors

BUENOS AIRES (Reuters) - Economy Minister Axel Kicillof said on Tuesday the Argentine government wants to normalize relations with foreign creditors and investors but will not accept “just any conditions” to solve the debt fight.

Kicillof added that if a U.S. ruling ordered it to pay holdout hedge funds $1.33 billion were applied as is, the South American country would be pushed into a new default, because it would open the door to claims from other holdout bondholders worth $15 billion (£8.84 billion).

In the first few minutes of his speech, the minister did not say whether Argentina would negotiate with holdout bondholders to reach a deal or pursue another strategy.

Reporting by Sarah Marsh; Writing by Alexandra Ulmer; Editing by Jonathan Oatis

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