World News: 00:13 GMT Saturday 21st June 2014. [Yahoo Business News Feed via SPi World News]
By Hugh Bronstein BUENOS AIRES (Reuters) - President Cristina Fernandez said on Friday her government would negotiate with all of Argentina's creditors in a bid to avoid a new debt default that would further weaken the country's ailing economy. "We want to pay 100 percent of creditors," Fernandez said in a speech that boosted hopes of a settlement to the legal battle between her government and "holdout" investors who are demanding full payment following Argentina's massive 2002 bond default. Argentina's financial markets were closed for a holiday, but international bond spreads, which measure default risk, tightened sharply after she spoke. The country is locked in a 12-year-old fight in U.S. courts with the creditors who refused to accept a 2005 and 2010 revamp of debt securities.
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