Debt mediator Pollack: Argentina 'will imminently be in default' - statement

(Reuters) - The mediator in Argentina's debt case said no agreement was reached on Wednesday, and "the Republic of Argentina will imminently be in default," he said in a statement. In a statement, court-appointed mediator Daniel Pollack said that default is "is not a mere 'technical' condition, but rather a real and painful event that will hurt real people," including Argentine citizens, exchange bondholders and the holdout investors. Argentina has been fighting holdout investors demanding payment on bonds they own after the nation defaulted in 2002. "The ordinary argentine citizen will be the real and ultimate victim," he said in a statement. "The full consequences of default are not predictable, but they certainly are not positive." (Reporting By Daniel Bases; Editing by Steve Orlofsky)