Argentina Rejected by UK Top Court in $1.5 Billion Bond Case

Argentina lost a bid at the UK Supreme Court to hear its appeal on a ruling that would force the South American nation to pay $1.5 billion in damages to holders of the country’s growth-linked bonds. The holders argued the losses were a result of a change by a previous Argentine government in how it calculated gross domestic product.The court’s decision puts pressure on the country’s buffer of foreign currency reserves, money that Argentina needs for bond payments and to eventually lift capital controls. 

October 15, 2024 

SOURCE: YAHOO

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Argentina Rejected by UK Top Court in $1.5 Billion Bond Case