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Kirchner Government to Tap Argentine Reserves
Wall Street Journal
April 06, 2010

By MATT MOFFETT

BUENOS AIRES President Cristina Kirchner's government was preparing to tap central bank reserves to make a payment to bondholders this week, marking a stinging defeat for the opposition, which hasn't been able to capitalize on its congressional majority to thwart the controversial plan.

The government said last week that it intended to make a $204 million payment to bondholders with reserves after an appellate court ruling lifted a pair of injunctions that had frozen the debt plan. Late Monday, there was still no official word, but Buenos Aires newspapers Ambito Financiero and La Naci n reported on their Web sites that the payment had been made.

For full text of the article, visit: http://online.wsj.com/article/SB10001424052702304017404575166391451683572.html?mod=googlenews_wsj

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