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Argentina says won't make next bond payment in US
http://news.yahoo.com/argentina-says-wont-next-bond-payment-us-042325671.htmlNew York (AFP) - Argentina will not make a bond service payment due June 30 in New York as ordered by a US judge, the economy ministry said, moving the country closer to default.
US District Judge Thomas Griesa earlier ordered Argentina to pay hedge funds that refused to join a restructuring of the country's debt and want to be paid the full $1.3 billion face value of the bonds they hold.
The Argentinian economy ministry said it "regretted" Griesa's decision to uphold his 2012 ruling in favor of the holdout bond investors, embroiled in a case that has been in litigation for 12 years.
Griesa's order "prevents Argentina from making the June 30 payment to its creditors of the restructured debt unless they simultaneously pay the entire amount claimed by the vulture funds," the ministry added, estimating the total at $15 billion.
