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Argentine Central Bank Swaps Notes for $16B in New Sovereign Bonds

Argentina has swapped $16 billion in notes held by the central bank for fresh dollar-denominated bonds, the government said on Wednesday as the country moves to bolster reserves and strengthen its hand against creditors suing over defaulted debt. Long-awaited negotiations with a group of New York hedge funds that sued in the U.S. courts for full repayment of defaulted sovereign bonds are set to start in the days ahead. The central bank also is talking with investment banks about a...

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