Wednesday, February 3, 2016

Caputo holds debt meeting with 'vultures'

For the third time this week, Finance Secretary Luis Caputo arrived in the New York City offices of Daniel Pollack – the US court appointed mediator in Argentina’s debt dispute against so called “vulture” funds.

Caputo is expected to hold several meetings today and tomorrow with representatives of hedge funds suing the country over is 2002 defaulted bonds.

The government of Argentina yesterday announced a debt agreement with Italian bondholders, now focusing all efforts on the NY negotiations.

Argentina agreed to pay US$1.35 billion in cash to a group of Italian investors who hold unpaid sovereign debt stemming from the 2001 default — the first time the country has reached an accord with “holdout” creditors who refused to participate in earlier restructurings.

“I am going to meet with special master (Pollack) and holdouts,” Caputo said today in brief statements to the press.