Default wouldn't ruin economy, Argentina says

Even if a U.S. court order blocks Argentina from making a bond payment at the end of this month, putting the government in technical default, the economy won't collapse and "life will go on," Cabinet Chief Jorge Capitanich says. Argentina's dwindling foreign reserves might have been resolved last week when the nation and China agreed to swap as much as $11 billion worth of their currencies over three years. Talks between bondholders and the Argentine government are scheduled to resume today.

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