The Presidential Daily Brief

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  1. Argentina Loses Debt Battle

    Argentina is in default for the eighth time in its history. The breakdown occurred over a dispute with a small group of “vulture” investors, who bought up cheap Argentine bonds after the 2001 default. These New York hedge funds demand full payment, but the government accuses them of extortion and insists that it would be illegal under Argentine law to pay investors who won’t restructure. The markets seem unperturbed by the news, but ordinary Argentinians will be hit hard as the cost of borrowing skyrockets.

    FT (sub), Business Insider, The Economist

This story is part of The Presidential Daily Brief

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