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Argentina Doesn’t Make Foreign Debt Payments in Restructuring Standoff

Argentina said it didn’t make foreign debt payments coming due on Wednesday—starting a countdown to a possible default next month unless authorities and bondholders can restructure tens of billions of dollars in sovereign debt.

The Economy Ministry said in a statement that it would instead use a 30-day grace period on about $500 million in interest payments for three foreign bonds as it continues to seek a “sustainable debt profile” with international creditors.

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