Argentina says will pay bondholders, denies in default

Argentina`s economy minister said the country would continue paying bondholders who agreed to restructure its debt after it defaulted in 2001, and denied the government was again in default.

AFP| Last Updated: Aug 01, 2014, 06:08 AM IST

Buenos Aires: Argentina`s economy minister said Thursday the country would continue paying bondholders who agreed to restructure its debt after it defaulted in 2001, and denied the government was again in default.

"We will do what is possible so that that money reaches its legitimate owners," the minister, Axel Kicillof, told journalists after a US judge blocked a $539 million payment to bondholders until the country resolves its dispute with so-called "holdout" hedge funds.

"This is not a default," Kicillof insisted. Ratings agency Standard & Poor`s declared Argentina in "selective default" on Wednesday.