Lagarde lauds new Mexican bonds with ‘strengthened' collective action clauses

Christine Lagarde, managing director of the IMF

Christine Lagarde, IMF managing director, has applauded the issuance of a Mexican bond with new-style collective action clauses that make it harder for holdout creditors to fight restructurings.

"We strongly welcome Mexico's issuance of bonds today that include strengthened collective action clauses," Lagarde said, in a statement published on Tuesday.

The bond contains clauses designed to avoid another case like Argentina, where a small group of holdouts have embroiled the sovereign in years of

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