Isda asked to consider "potential" Argentina CDS event
Holders of CDSs on Argentine debt claim contracts due to expire before the country's June 30 coupon payment should still be valid if the country later defaults.
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 on
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