A New York judge has denied Argentina's request to extend deadlines to repay a debt to bondholders, which the country claims could lead it into a catastrophic default.
Federal Judge Thomas Griesa rejected Argentina's request in an order Thursday.
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Argentina's economy minister had sought the delay, saying an end-of-the-month deadline to make payments to U.S. hedge funds could sink the nation's economy and trigger financial havoc around the world.
Lawyers for the hedge fund have countered that Argentina was just trying to delay paying the $1.65 billion it owes.