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Argentina, US Creditors Fail to Reach Deal; Default Imminent

Argentina’s economic minister says the country will default on its debt. Minister Axel Kicillof said Wednesday the South American country failed to reach agreement with several New York hedge funds before a midnight deadline. He said Argentina “had negotiated in good faith.” The hedge funds sued, demanding full repayment of their $1.5 billion share of the Argentine debt. As Argentina’s delegation scrambled in negotiations at a New York office for a last-minute deal, the price of...

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