NEW YORK (AP) -- A federal appeals court in New York has given Argentina breathing room in its billion-dollar debt showdown, indefinitely suspending a lower court judge's ruling that threatened to push the country into default.
The one-page order by the 2nd U.S. Circuit Court of Appeals sets a Feb. 27 date for arguments in the case.
The appeals court on Wednesday stayed a ruling by Judge Thomas Griesa that ordered the government of President Cristina Fernandez to pay $1.3 billion into an escrow account by Dec. 15, even as it pursues its final appeals.
Fernandez had called the judge's ruling "judicial colonialism" and vowed to fight it.