BUENOS AIRES, Jan 11 (Reuters) - Argentina does not expect to make an offer to U.S. hedge funds suing over unpaid debt when negotiations resume in New York on Wednesday, the daily La Nacion quoted the country’s cabinet chief as saying.
“We don’t plan to make an offer,” Cabinet Chief Marcos Pena told La Nacion. “This is a preliminary conversation.”
The funds, led by billionaire Paul Singer’s Elliott Management, are suing Argentina for full repayment of debt the country defaulted on in 2002. A large majority of creditors accepted about 30 cents on the dollar in 2005 and 2010 restructurings. (Reporting by Richard Lough; Editing by Chizu Nomiyama)