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Argentina to hold last-gasp debt talks with mediator on Tuesday

Published on Jul 29, 2014 7:10 AM

BUENOS AIRES/NEW YORK (REUTERS) - Argentina will on Tuesday meet the US mediator in its battle with "holdout" debt investors suing the country for last-minute talks to avert a second default this century, but hopes for a deal are fading fast.

Mediator Daniel Pollack said on Monday the Argentine government advised him it was sending a delegation of technical, financial and legal representatives to meet him at 11am on Tuesday (11pm Singapore time) in his office in New York.

However, Argentine government sources said Economy Minister Axel Kicillof, the country's chief dealmaker who has brokered deals with foreign creditors and investors this year, will be in Caracas, attending a meeting of the South American trade bloc Mercosur.

"I again urged direct, face-to-face conversations with the bondholders, but that will not happen tomorrow," Pollack said, referring to the holdout creditors.

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