Argentina appeared to move a step closer to a default on its bond-servicing obligations in the U.S. Wednesday, with reports saying the Latin American nation would miss an end-of-the-month payment. After a U.S. federal court judge lifted a stay that shielded Argentina from paying hedge funds that won't join a restructuring agreement, the Argentinian economy ministry said such payments would be "impossible," according to Reuters. Argentinian officials had planned to negotiate with those funds seeking full payment, according to reports. The U.S. hedge funds hold about $1.3 billion in Argentinian debt, Agence France-Presse reported.

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