Home|Latest on International Development Cooperation|UN urged to swoop on vulture funds

by Katie Allen

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by Katie Allen

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The Latin American country slipped into default in July after losing a long legal battle with hedge funds that bought its debt at rock-bottom prices during Argentina’s financial crisis and then rejected the terms of debt restructurings in 2005 and 2010, pursuing the country through the courts to get full repayment.

Argentina’s second default in 13 years prompted renewed calls for an international legal framework to smooth the process of restructuring debts and to protect crisis-stricken sovereign creditors.

Available at: http://www.theguardian.com/business/2014/sep/02/un-swoop-vulture-funds-debt-crisis-argentina 

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