Argentina Warns U.S. Diplomat Of "Severe Measures" If Word "Default" Used Again

After a U.S. diplomat said Argentina is in “default” on its debt, the Latin American nation warned that “severe measures will be taken” if the “default” terminology is used again.

In an interview published in the Clarin newspaper, Kevin Sullivan, the U.S. interim ambassador to Argentina, said it was important for Argentina “to exit default as soon as possible, for it to return to the path of sustainable economic growth and attract the investment it needs.” Sullivan added that the U.S. did not support the debt restructuring debate at the United Nations, where Argentina won an overwhelming majority support, “because we do not think it is the right place to find an efficient solution.”