Argentina Loses $1.5 Billion UK Appeal Over GDP Linked Bonds (1)

Argentina lost its attempt to overturn a UK court order to pay $1.5 billion to compensate investors for losses in the country’s growth-linked securities.

The Court of Appeal refused the appeal over the payments to hedge funds including Palladian Partners LP. The investors alleged the loses were a result of a change in the method of calculating the country’s gross domestic product.

The ruling is another setback for the country that’s battling annual inflation near 300% and a worsening recession, even after President Javier Milei’s economic shock therapy. The South American nation would be at the risk ...