debt default - updates

Rappler's latest stories on debt default

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Argentina passes bill to end 15-year debt battle

Mar 31, 2016 - 3:32 PM

The vote clears the final legislative hurdle for the deal and paves the way for the government to pay off creditors that rejected Argentina s efforts to restructure its mountain of defaulted debt

DISCUSSING DEBT. Argentine senators debate the status of debt with several creditors in Buenos Aires, Argentina, March 30, 2016. Sturla Fernando/EPA

Indian banks petition court for liquor baron's arrest

Mar 05, 2016 - 7:23 PM

Indian banks are after Vijay Mallya who owes more than 1 billion to state run banks and creditors

DEBT. A group of banks is set to sue Vijay Mallya – once known as 'India's Richard Branson' – for defaulting on his debts. Photo by Jagadeesh Nv/EPA

Argentina, 'vulture' funds end 15-year debt battle

Mar 01, 2016 - 11:02 AM

UPDATED The deal opens the door for the South American country to escape financial pariah status

Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

New Argentine gov't resumes talks with 'vulture' creditors

Jan 14, 2016 - 8:02 AM

President Mauricio Macri says he hopes for a reasonable agreement with the creditors

Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

US judge calls for Argentina to make next interest payment

Nov 11, 2014 - 9:09 AM

The judge said he was postponing a hearing that had been set for December 9 on the case to allow Buenos Aires to make payment

Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

Argentine central bank chief resigns amid economic turmoil

Oct 02, 2014 - 11:16 AM

Juan Carlos Fabrega s decision to quit after less than a year in the post comes a day after an emotional President Cristina Kirchner alleged in a televised address that domestic and US interests were pushing to devalue the peso topple her center left government – and even kill her

Picture taken on June 26, 2014 of Argentina's central bank governor Juan Carlos Fabrega during a speech in Buenos Aires. Hugo Villalobos/AFP

US court ruling on Argentine debt violates int'l law – Buenos Aires

Sep 30, 2014 - 7:50 AM

Argentina: The ruling by Judge Thomas Griesa saying that the Argentine Republic is in contempt of court violates international law the UN Charter and the OAS charter

Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

Argentine lawmakers OK debt payment alternatives

Sep 04, 2014 - 2:17 PM

Argentina s lawmakers approve a measure that would transfer the payment site for the country s restructured debt obligations from New York to Buenos Aires

The Argentinean Senate session in Buenos Aires, Argentina, on 06 August 2014. Fernando Sturla/EPA

Buenos Aires moves to pay bondholders in Argentina – Kirchner

Aug 20, 2014 - 10:26 AM

Buenos Aires moves to pay bondholders domestically after a US bank left it unable to do so President Cristina Kirchner said

Argentina's President Cristina Fernandez de Kirchner speaks during a ceremony at the government house in Buenos Aires on July 31, 2014. Daniel Garcia/AFP

Hedge funds fail to clinch Argentina debt deal

Aug 14, 2014 - 9:59 AM

Negotiations break down over a possible bank purchase of the 1 3 billion in Argentine bonds owned by holdout funds that would allow the country to exit default

Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

US judge backs mediator in Argentina debt dispute

Aug 05, 2014 - 8:38 AM

Argentina s government had announced earlier that it would formally ask the judge to dismiss mediator Daniel Pollack accusing the attorney of failing to be impartial in the case

Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

Asian stocks slip after major US sell-off

Aug 01, 2014 - 1:15 PM

Asian markets ends their recent rally after the Dow posts its biggest single sell off since February

SELL-OFF. Asian markets ends their recent rally on August 1 after the Dow posted its biggest single sell-off since February on weak eurozone data, news of Argentina's debt default, and a rise in US jobless claims shook the market. File photo from AFP

Argentina defaults as 'vulture talks' fail

Jul 31, 2014 - 7:10 AM

UPDATED Analysts have warned a default would deepen the economic malaise gripping Argentina exacerbating its already troubling inflation and perhaps forcing another devaluation of the peso

NO DEAL. Axel Kicillof, Argentina's economy minister, addresses the media at the Consulate General of Argentina after departing a mediation meeting in New York, New York, USA, 30 July 2014. Jason Szenes/EPA

Argentina seeks last-minute solution as default looms

Jul 30, 2014 - 7:25 AM

Argentina has until the end of Wednesday to resolve its dispute with creditors who refuse to accept a write down on the debt it defaulted on in 2001 that has pushed Latin America s third largest economy to the brink of a new default

Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

With new default looming, Argentina urges calm

Jul 29, 2014 - 8:26 AM

With no visible progress in talks with the holdouts the country could fail to make a 539 million payment on the restructured debt by the Wednesday July 30 deadline

Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

US judge urges Argentina, hedge funds to avoid default

Jul 23, 2014 - 7:23 AM

US judge: A default is the worst thing I don t want that People will be hurt

NO DEBT DEFAULT, SAYS KIRCHNER. Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

Argentina won't make bond payment in US – official

Jun 19, 2014 - 11:11 AM

US District Judge Thomas Griesa earlier lifted a stay requiring Argentina to pay hedge funds that refused to join a restructuring of the country s debt

NO DEBT DEFAULT, SAYS KIRCHNER. Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

US Supreme Court rejects Argentine debt appeals

Jun 17, 2014 - 10:18 AM

The justices effectively uphold an August 2013 New York appeals court ruling that ordered Argentina to pay NML Capital and other hedge funds that had refused to participate in a restructuring deal for debt on which Buenos Aires defaulted in 2001

NO DEBT DEFAULT, SAYS KIRCHNER. Argentine bank notes pictured on December 7, 2011 in Buenos Aires. Daniel Garcia/AFP

Some debt defaults 'healthy' for China market: central bank

Mar 23, 2014 - 6:54 PM

Authorities pay very high attention to financial risks but certain individual cases of such defaults are hardly avoidable says a central bank official

PH stocks to continue rise on US debt deal

Oct 20, 2013 - 7:26 PM

But the central bank warns volatility will remain as the US finds a permanent solution to its debt issues

BETTER DAYS AHEAD. The local capital market is expected to post gains in the coming days due to recent developments in the US. Photo by AFP

Rappler Newscast | October 17, 2013

Oct 17, 2013 - 10:46 PM

Relief goods reach isolated towns hit by the earthquake SC creates body to probe Ma’am Arlene Last minute deal averts US debt default ends shutdown

Asian shares up as Washington narrowly avoids default

Oct 17, 2013 - 1:34 PM

US lawmakers passed a last minute bill to reopen the government and raise the country s borrowing limit avoiding a devastating default that threatened to spark another global recession

Asian shares rise as US reaches debt deal in Congress. File photo by AFP

Congress pulls US back from brink, averts default

Oct 17, 2013 - 7:06 AM

UPDATED The US Congress approves a measure that should end the US government shutdown and averts a potentially catastrophic default

DEADLINE LOOMING. A view of Capitol Hill October 16, 2013 in Washington, DC. US senators scrambled together an eleventh hour compromise Wednesday that they hoped might protect Washington's battered financial standing by heading off fears of a default. AFP/Brendan Smialowski

Senate in spotlight as US on brink of possible default

Oct 16, 2013 - 10:33 PM

I think right now it s going to be the Senate because last night it fell apart in the House Republican Senator Kelly Ayotte told CNN warning it would be unacceptable to miss the midnight deadline

DEBT DEFAULT LOOMING. The US is facing a debt default as politicians bicker over the federal budget. Pictured above is the dome of the US Capitol in Washington, DC, USA, 03 October 2013. Photo by EPA/Shawn Thew