"Serious Challenges Ahead for New Argentine Debt Law"

By Evan Abrams

It has been a rough year for the Argentine economy and more bad news may be on the horizon. The nation has been scrambling to avoid default after adverse U.S. court rulings required Argentina to pay bondholders who have refused to agree to previous restructurings. Argentina’s congress has passed new legislation in an attempt to circumvent U.S. law, however the Associated Press is reporting that the law may face serious implementation challenges. Analysts assert that the law lacks clarity and fails to resolve all of the legal issues facing bondholders.