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Argentina Defaults Again on Debt

Argentina has defaulted on its debt for the second time in 13 years. Argentina negotiators failed late Wednesday to reach an agreement with New York investment companies to avert the default. The hedge funds are demanding full payment of $1.5 billion on discounted Argentine bonds they bought the last time the South American nation defaulted in 2001. More than 90 percent of the creditors holding the 2001 Argentine debt agreed in 2005 and 2010 to write off 70 percent of the money they...

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