BUENOS AIRES (Reuters)—Argentina's government on Wednesday [Aug. 27] ruled out further piecemeal debt negotiations with a small group of U.S. hedge funds and said the country needed to strike a deal with all bondholders who rejected past restructuring agreements as a single group.
"We have to negotiate with everyone," Economy Minister Axel Kicillof told a group of Congressional committees.
Latin America's No.3 economy fell into default again last month after failing to reach an agreement with one group of holdout funds led by NML Capital Ltd. and Aurelius Capital Management who are suing for full payment on their bondholdings.
Other funds who also rejected the bond swaps that followed the South American country's record default in 2002 lurk in the sidelines and could launch similar lawsuits.
By Alejandro Lifschitz; writing by Richard Lough