Modest optimism Argentina and bondholders can strike a deal by 22 May

Wednesday, May 13th 2020 - 07:55 UTC

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Argentine bonds jumped on Tuesday as the country’s government and creditors sought to strike a deal to restructure US$ 65 billion in foreign debt by May 22 after an initial deadline passed last week without a pact. Read full article

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Enrique Massot
The IMF's support for Argentina in the current situation would have been unimaginable in the past, and it's a welcome reverse.

Indeed, the four-year term of Mauricio Macri as president has put the county in a tough situation that is well understood both domestically and internationally.

Argentina was already in a default position as Macri left office last December, and the ensuing COVID-19 pandemic has only made the situation worse and shared by most countries around the world in terms of GDP drop.

As the world enters a whole new and dire situation, private bondholders have the possibility of reaching a reasonable deal that will give Argentina an opportunity to recover and keep paying, with creditors being able to keep their books in the black and payments flowing to their coffers.

A reasonable deal is way better than no deal at all.
May 14th, 2020 - 03:18 pm - Link - Report abuse 0
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