By Evan Abrams
It has been a rough year for the Argentine economy and more
bad news may be on the horizon. The nation has been scrambling to avoid default
after adverse U.S. court rulings required Argentina to pay bondholders who have
refused to agree to previous restructurings. Argentina’s congress has passed
new legislation in an attempt to circumvent U.S. law, however the Associated
Press is reporting that the law may face serious implementation challenges.
Analysts assert that the law lacks clarity and fails to resolve all of the
legal issues facing bondholders.
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