World Economy

Argentina Repays “Vulture Funds”

Argentina Repays “Vulture Funds”Argentina Repays “Vulture Funds”

Argentina paid $9.4 billion to 220 “holdout” bondholders on Friday, a settlement expected to allow Argentina to leave the list of global deadbeats and regain access to the cheap credit, Yahoo reported. Soon, farmers, shop owners and auto parts makers will all be paying less for loans, which should in turn stimulate investment and expansion. At least that’s the argument made by President Mauricio Macri, who made bond settlement a promise of the campaign that won him election in November. His predecessor, Cristina Fernandez de Kirchner, had refused to pay, arguing that the bond owners were “vulture funds” attempting to extort money from the country.