Thursday, July 18, 2013 4:47 pm
IMF may back Argentina in case over 2001 default
By MARJORIE OLSTERAssociated Press
A U.S. appellate court is weighing how to force Argentina to pay more than $1.4 billion owed to investment funds trying to collect on bonds rendered nearly worthless.
A source with knowledge of the matter said Thursday the board will be asked next week to file a brief with the Supreme Court supporting Argentina's petition to reverse lower court rulings. He spoke on condition of anonymity because he was not authorized to talk on the record before the board's decision.
The IMF is concerned about precedents that could make it harder for countries to obtain debt relief.