Why The US Is Telling Argentina How To Pay Off Its Debt

Argentina's central bank plans to pay local lenders rather than American creditors for its debt Tuesday, exactly the opposite of what a U.S. judge ordered the South American country to do. It's just the latest chapter in a long and bruising battle between Latin America's third-largest economy and U.S. hedge funds, which took Argentina to court to force the country to deliver on promises to pay them back for the Argentine bonds they own.