Delay or default are the two options as the clock ticks toward midnight.
Last-ditch efforts between Argentina’s banking association (Adeba) and vulture funds are ongoing. Reuters reports that negotiations now revolve around how much local banks need to deposit as goodwill to give them time negotiate a way to pay holdouts themselves, according to Reuters. That sounds like progress and it might be enough for the judge to grant an extension. Argentina’s stock market is certainly optimistic with the Merval up 6.5%.
Keep a close eye on the headlines.
