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US court clears Argentina to pay hedge funds in debt battle

View of the Congress in Buenos Aires, Argentina on March 1, 2016
AFP

New York (AFP) – A US federal appeals court on Wednesday cleared Argentina to make payments on its debt, paving the way for the country to settle its long battle over bonds defaulted in 2001.

A three-judge panel rejected an appeal from some holdout creditors of a March ruling that removed injunctions blocking the payments. Argentina will thus be able to follow through on settlement deals with other holdouts over some $9 billion in claims.

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