Fox News: Argentina offers to pay debts with cash & bonds

[riky]

Argentina offers to pay debts with cash & bonds

Argentina proposed a creative way out of its debt showdown Friday night, describing a mix of cash and bonds that it suggested would amount to a huge profit, but not a gargantuan one, for the investors it calls "vulture funds." The government's lawyers gave an appellate panel in New York a proposed payment plan that could take many more years to cancel $1.44 billion in defaulted bonds, interest and penalties left unpaid since the country's world-record 2001 default.

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