Argentina placed in default mode as US ‘vultures’ refuse debt offer
YEREVAN, July 31. /ARKA/. Standard & Poor’s last night downgraded Argentina’s foreign currency rating to selective default as efforts to agree a last-minute deal to avert the country’s second default in 12 years collapsed, the Times reported.
Argentine officials, led by Axel Kicillof, the economy minister, had been in negotiations with a court-appointed mediator in New York in an attempt to resolve a stand-off that has prevented the country from making a bond payment that was due on June 30. –0--