Buenos Aires Governor Surrenders, Will Pay Creditors to Prevent Moratorium

Governor Kicillof blamed the Fidelity Fund for the failed negotiations. The US giant, which manages funds close to US$10 trillion worldwide, clung to its position from the very first.

RIO DE JANEIRO, BRAZIL - Axel Kicillof, kirchnerist governor of Buenos Aires, had to yield to creditors. They did not grant him the deferral he was asking for, they placed him one step from default, and the turmoil was too much for him: after assuring for weeks that the province could not . . .

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