Argentina's Kicillof to lead debt delegation to NY

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Associated Press

Posted on July 6, 2014 at 11:00 PM

Updated Sunday, Jul 6 at 11:36 PM

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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