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Argentina economy minister meets debt negotiator, request stay to resolve long dispute

  • APTOPIX Argentine Debt-1.jpg

    Argentina's economy minister Axel Kicillof arrives for negotiations in New York Monday, July 7, 2014. A judge Thursday denied Argentina's request to extend deadlines to repay a $1.65 billion debt to U.S. hedge funds, leaving the nation few options and little time to meet a Monday deadline to make a required payment to the majority of its creditors. (AP Photo/Craig Ruttle) (The Associated Press)

  • Argentine Debt-2.jpg

    Argentina's economy minister Axel Kicillof arrives for negotiations in New York Monday, July 7, 2014. A judge Thursday denied Argentina's request to extend deadlines to repay a $1.65 billion debt to U.S. hedge funds, leaving the nation few options and little time to meet a Monday deadline to make a required payment to the majority of its creditors. (AP Photo/Craig Ruttle) (The Associated Press)

Argentina's economy minister has requested that a court-appointed negotiator extend deadlines to repay a debt to bondholders that the country says could lead to a default.

Axel Kicillof met with Daniel Pollack in New York Monday aiming to resolve a long dispute with U.S. holdout creditors. Pollack is presiding over negotiations between representatives of Argentina and U.S. bondholders in the conflict over $1.5 billion in debt.

Argentina needs to strike a deal before the end of the month with the holdouts if it is to avoid a default. The holdouts rejected debt swaps after Argentina's record $100 billion default in 2001-2002.

Kicillof declined to speak to reporters after the five-hour meeting and referred all information to an official statement.