Argentina went bankrupt for the second time in 13 years

argeninabank

Argentine Government found herself in position of bankruptcy – which means that admits inability to pay its debts. This South American country declared bankruptcy for the second time...

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argeninabankArgentine Government found herself in position of bankruptcy which means that admits inability to pay its debts.

This South American country declared bankruptcy for the second time in 13 years. Current debt of $ 1.3 billion came just as the previous one in 2001, when hedge funds bought government bonds at a reduced price.

Argentine officials to the last tried to sign a contract extension with the funds, but last night the last round of negotiations fail.

The U.S. court dealing with the dispute between the parties, issued a ruling pretrial settlement between the parties to be completed by Thursday morning 4:00 GMT.

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