Meeting At World Bank Points To Sovereign Debt Solutions

Get ready for more courtroom drama similar to that between Argentina and hold out investors if the structural issues in sovereign debt default are not addressed. Consensus in IMF meeting says other nations to follow Argentina At a recent International Monetary Fund meeting in Washington D.C., a consensus emerged that if changes are not made to U.S. law a host of other countries could follow Argentina’s lead.  Sean Hagan, General Counsel of the IMF, said the New York court decisions against Argentina could exacerbate the hold-out problem. He said that there are $900 billion in outstanding bonds and that if…