Argentina's bond debt explained

Argentina's President Cristina Fernandez has said that her government will honour its payments to holders of its restructured debt and so avoid a default, despite suffering a setback in its long-running legal battle against "holdout" investors.

Just hours after the US Supreme Court refused on Monday to hear an Argentinian appeal aimed at staving off a default, Fernandez criticised US courts for repeatedly ruling against her government.

International law specialist Khawar Qureshi explains the implication of the US Supreme Court's decision to not hear Argentinia's appeal.