News

Argentina’s Not The Only One Who’d Like A Little More Time

If the world’s favorite uniquely recalcitrant debtor can delay deciding whether or not to default, maybe swaps betting on that default should get to stick around, too.

The holder of the contracts—known as credit default swaps—submitted Friday a question to the International Swaps and Derivatives Association asking whether Mr. Kicillof’s claims on June 18 that it would be “impossible” for Argentina to make debt payments this month would trigger a clause that would allow the contract, which expired June 20, to cover that potential default.

Holder of Argentine Contract Seeks Extension Over Minister Comment [WSJ]
Argentina Asks U.S. Judge for Talks in Debt Dispute [WSJ]

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