Buenos Aires moves to pay bondholders in Argentina

Buenos Aires on Tuesday moved to pay bondholders domestically after a US bank left it unable to do so, President Cristina Kirchner said. ‘To protect the payments to bondholders who took part in the 2005 and 2010 debt swaps, we are designating the (state) Banco Nacion Trust as a replacement for Bank of New York Mellon, however the bondholders decide (to take payment), voluntarily,’ Kirchner said in a televised address, according to AFP.