Argentina Unopposed to Bank Deal With Hedge Funds - Bloomberg

Argentina’s Economy Minister Axel Kicillof said the government wouldn’t oppose a third-party solution to its dispute with a group of hedge funds who successfully sued the country for $1.5 billion. A U.S. judge has blocked Argentina from paying its debt -- including an interest payment due July 30 on $13 billion of bonds -- until the hedge funds led by Elliott Management Corp. get their money. Standard & Poor’s declared the country in default while Moody’s Investors Service placed its rating on negative outlook.