Argentina economy minister to lead delegation that will meet with debt negotiator in New York

WorldAssociated Press

Argentina's economy minister will lead a delegation that will meet with a court-appointed negotiator in a long dispute with U.S. holdout creditors.

The economy ministry said Sunday night that Axel Kicillof will meet Daniel A. Pollack in New York on Monday.

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Pollack is presiding over negotiations between representatives of Argentina and U.S. bondholders aimed at resolving the conflict over $1.5 billion in debt. The holdout funds will not be part of the meeting.

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 original $100 billion default.

U.S. District Judge Thomas Griesa has said it would be illegal for Argentina to make a payment to other bondholders without paying the holdouts.