More Progress in Talks to Resolve Argentina’s Debt

A court-appointed mediator reported more progress Friday in efforts by Argentina to resolve a dispute with bondholders who claim they are owed about $10 billion by the financially strapped South American nation.
More Progress in Talks to Resolve Argentina’s Debt
Daniel Pollack, a mediator appointed by U.S. District, speaks with the media after negotiations with creditors in New York City on Feb. 5, 2016. Kena Betancur/AFP/Getty Images
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NEW YORK—A court-appointed mediator reported more progress Friday in efforts by Argentina to resolve a dispute with bondholders who claim they are owed about $10 billion by the financially strapped South American nation.

A week after two of six leading bondholders settled their claims for well over $1 billion, the rest of them were completing a week of “intensive discussions” with high-ranking Argentine government officials, mediator Daniel Pollack said in a statement.

“These discussions have gone late into the night and will continue. I do not know whether agreements in principle will be reached with these four bondholders, but I will continue to do everything in my power to see that it happens,” Pollack said.

He called it an “eventful week in the negotiations.”

Last week, Argentina offered bondholders a $6.5 billion deal to settle cases stemming from its 2001 default. Holdout bondholders were seeking about $10 billion.

U.S. hedge funds are among bondholders that refused to trade bonds at discounted prices after Argentina defaulted on $100 billion in debt in 2001.