Argentina has a day to reach agreement with hedge funds

If no agreement with the hedge funds for unpaid debt bonds is reached, Argentina would fall in cessation of payments in one day. Therefore, the country should pay $ 1,330 million to what its government calls “vulture funds”.

Argentine authorities of the Economy Ministry traveled to New York yesterday to meet today with mediator Daniel Pollack.

“Nothing will happen on the 30th”, said Economy Minister Axel Kicillof; however, analysts say that a default would enhance the signals of recession in Argentina’s flagging economy with an inflation in the first half of 15% and a fall in its economic activity.