Argentina’s Kicillof to lead debt delegation to NY

Argentina's Economy MInister Axel Kicillof talks to the media at a press conference to explain the recent U.S. Supreme Court's ruling on Argentina's bond default, in Buenos Aires, Argentina, Tuesday, June 17, 2014. The Argentine economy minister says the government is working on a debt swap that would make payments in Argentina to creditors who accepted previous debt restructurings. (AP Photo/Eduardo Di Baia)

BUENOS AIRES, Argentina (AP) – Argentina’s economy minister will lead a delegation that will meet with a court-appointed negotiator in a long dispute with U.S. holdout creditors.

The economy ministry said Sunday night that Axel Kicillof will meet Daniel A. Pollack in New York on Monday.

Pollack is presiding over negotiations between representatives of Argentina and U.S. bondholders aimed at resolving the conflict over $1.5 billion in debt. The holdout funds will not be part of the meeting.

Argentina needs to strike a deal before the end of the month with the holdouts if it is to avoid a default. The holdouts rejected debt swaps after Argentina’s original $100 billion default.

U.S. District Judge Thomas Griesa has said it would be illegal for Argentina to make a payment to other bondholders without paying the holdouts.

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7/6/2014 8:57:37 PM (GMT -5:00)

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