Isda asked to consider "potential" Argentina CDS event

Kicillof comments mean contracts can be extended, law firm argues

buenos-aires
Buenos Aires

The International Swaps and Derivatives Association has been asked to decide whether comments made last week by Argentina's economy minister, Axel Kicillof, could be deemed a "potential" repudiation or moratorium event for the credit default swap (CDS) market. Following a US Supreme Court ruling on June 16, which requires Argentina to pay $1.33 billion to funds that have refused the terms of its 2001 debt restructuring, Kicillof said it would be "impossible" to make the payment, which is due

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