☰

M. Continuo

Argentina seen contacting debt mediator by phone: source


    BUENOS AIRES (Reuters) - Argentina will probably not send a mission to New York this week to meet with the court-appointed debt mediator in its battle with holdout bondholders but instead will certainly be in touch with him by phone, an Argentine economy ministry source said on Tuesday.

    If Argentina does not reach a deal with the holdouts, who rejected previous restructurings of its debt, it faces a fresh default by the end of July, just as it is struggling with recession and dwindling foreign reserves.

    Asked if there would not be a meeting in New York this week with Special Master Daniel Pollack, the source said, "This is the most probable... There surely will be contact by telephone."

    (Reporting by Alejandro Lifschitz; Writing by Sarah Marsh Editing by W Simon)