Argentina deposited over $1,000 million for hedge funds

This Thursday Argentina deposited about 1,000 million to cancel the debt owed by hedge funds.

“The Argentina Republic, in fulfillment of the contract with the holders who adhered to the exchange, has proceeded to the payment of capital and interest services”, said Economy Minister Axel Kicillof.

The deposit of more than $1,000 million from Argentina was done yesterday as payment to the holders of the debt that matures next Monday. Meanwhile, Argentina negotiated with creditors of defaulted bonds to avoid a default.

However, a judgement of the U.S. judge Thomas Griesa do not allow creditors who accepted the established debt to cash out the money if Argentina does not pay also to  the dissenting holders that require complete liquidation.

Griesa said in his judgement that the U.S. banks that process payments of the Argentina´s debt must withhold the money.