Argentina has defaulted on its debt for the second time in 13 years.
Talks with creditors broke down on Wednesday night and the midnight deadline passed without a deal to avert a default.
Argentina has been isolated from international financial markets since its record $100 billion default in 2002.
More top news
One of the greatest sporting events on earth gets underway this week as the Ryder Cup heads to Scotland, here's everything you need to know
A toddler was in need of an unusual rescue after she got a kettle stuck on her head while playing at home in Chile.
British Defence Secretary Michael Fallon is in the Middle East to gather support for the international military campaign against IS.