argentina_debtStandard & Poor’s declared Argentina in default on its foreign-currency obligations after the government missed a deadline for paying interest on US$13 billion of restructured bonds.The South American country failed to get the US$539 million payment to bondholders after a U.S. judge ruled that the money couldn’t be distributed unless a group of hedge funds holding defaulted debt also got paid. Argentina, in default for the second time in 13 years, has about US$200 billion in foreign- currency debt, including US$30 billion of restructured bonds, according to S&P.Argentina and the hedge funds, led by billionaire Paul Singer’s Elliott Management Corp., failed to reach agreement in talks today in New York, according to the court-appointed mediator in the case, Daniel Pollack. In a press conference after the talks ended, Argentine Economy Minister Axel Kicillof described the group of creditors as “vulture funds” and said the country wouldn’t sign an accord under “extortion.” More