MercoPress. South Atlantic News Agency
Argentina extends debt negotiations deadline to “increase participation” and “better alternatives”
Argentina will extend negotiations over a US$ 65bn debt restructuring proposal until May 22, the government said in the official gazette on Monday. The extension sets the stage for tense last-ditch talks as Argentina races to avoid default. Read full article
Comments
Disclaimer & comment rules' . to “increase participation” and “better alternatives”.... '
May 13th, 2020 - 06:08 pm - Link - Report abuse 0-- Because everyone knows that Argentina's offer was roundly rejected as absurd, insulting, and insincere. And in that respect, characteristically argentine.
ML
May 14th, 2020 - 03:05 pm - Link - Report abuse 0It is nothing but bizarre that our distinguished commentator keeps blaming Argentina for attempting to renegotiate its foreign debt.
ML would probably prefer former president Mauricio Macri -- who was ready to sell the country for peanuts -- so that the bondholders could be rewarded, as it happened with the vultures of the finance at the beginning of his term in office who got more than what they were asking.
Instead, after getting rid of a clearly inept president, Argentina has given itself tough negotiators who put the country and its population first -- something that deeply displeases ML, who betrays a hostile interest expressed by angry postings in MP's friendly environment.
Not only is economy minister Martin Guzman attempting to spare Argentina from deep penury -- he has offered creditors a reasonable offer with which they won't lose money -- they will just earn a bit less.
This fact is what has prevented ML from having a good sleep night for the last five months.
Mister Reeky fails to understand the degree of deficit spending and outright indebtedness that the Macri government inherited, including the many judgments against the country which the KK governments refused to even acknowledge. But you wouldn't understand such things, would you, Reeky?
May 14th, 2020 - 10:18 pm - Link - Report abuse 0Here's a hint, and one-- just one -- example: the Macri government ended up taking on debt to pay a hedge funds judgment against the Kirchner government of about US$6.5 billion, most of which had been accumulated --- wait--- by the Kirchner governments, which had spend some US$40 million contesting rather than paying. The Macri government negotiated a settlement of US$4.7 billion, which the parties considered to be reasonable, unlike the laughably insincere cram-down theft tactics of the KK governments. So of course they had to borrow money to pay for that. A number of similar debts had also taken place during the KK governments which of course Reeky and similar minions failed to even acknowledge. Don't wish to believe there is debt and it just disappears, right?
Argentina's chief criminal Guzman and company haven't indicated how Argentina is going to change in such a way as to be able to pay anything, and the country right now is headed for a decade of recession and continuing deeper default as a result. What they have been proposing instead is outright theft disguised as an offer, and the creditors aren't taking it. Some 80 percent of the creditors' representatives can see right through the Peronist silliness and have rejected Argentina's laughably insincere offer.
Enrique:
May 16th, 2020 - 08:16 am - Link - Report abuse 0Martillazo or “Hammering” ML is not telling the truth. When Cristina left power, four years ago, Argentina’s foreign debt was 10% of the GNP and $0 dollars to the IMF. After four years of the utterly corrupt Macri administration, it is at 150% of the GNP. ML has called Martin Guzman a criminal with no intention to honor the debt incurred by Macri. Argentina has made a very serious offer to the bond holders which is 95% of the principal at 2% interest. At this time, countries are incurring debt at 0%. This “criminal offer,” according to ML, has the backing of the IMF, the UN, the G20, the G7, and 165 of the world’s leading economists including two Nobel Prize recipients. Let us not forget that during the first three years of the Macri Administration, they had a budget of US $300,000 /month to pay trolls to post fake news on the web. Alberto Fernandez has an approval rating of over 80% and the PRO and their trolls are getting desperate. The posters on this site are only interested in insulting Argentina and Argentines. Why waste your time and effort. Let them post. This site has no significance whatsoever.
Hektor
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