Vulture Funds: Argentine Team to Meet Mediator Next Week

A special task force from Argentina will travel to New York next week to meet with the mediator appointed by Judge Thomas Griesa to discuss the ongoing dispute over money owed to vulture funds.

The Economy Ministry confirmed that the face-to-face meetings with lawyer Daniel Pollack would begin on 7th July.

Argentina today entered a 30-day grace period to make a payment to bondholders that had accepted a debt restructuring – due on 30th June – and avoid entering a ‘technical default’.

Last week, Judge Griesa ordered Bank of New York Mellon to stop the payment and return the deposited funds to Argentina.

“Argentina reiterates its willingness to negotiate under fair, equal, and legal conditions that take into account 100% of creditors,” read a statement released by the Economy Ministry last night.

Cabinet Chief Jorge Capitanich today said that the members of the negotiating team would be named “this week”.

The government has until the end of July to negotiate a solution to the conflict with the vulture funds and pay the exchange bondholders without entering a ‘technical default’.

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