The International Monetary Fund expressed optimism that Argentina can reach an agreement with private creditors “to establish a sustainable path in the future” when the government of President Alberto Fernandez formally extended the deadline term to reach an understanding on the US$ 67 billion debt.
Argentina is preparing to extend the deadline to its debt offer to May 22. The government will publish an extension to its debt offer in the official Gazette this Monday, part of President Alberto Fernandez’s next steps in its debt restructuring after extending a deadline over the weekend for creditors to accept an initial offer to exchange $65 billion in overseas bonds.
After 50 days in mandatory lockdown, Argentina's President Alberto Fernández announced on Friday that the quarantine will be extended until May 24th.
Argentina will keep pushing for talks with creditors even as a deadline for its US$ 65 billion debt restructuring proposal passed on Friday with little sign it had the support needed from international bondholders to unlock a comprehensive deal. Apparently on averaged less than 20% of bondholders accepted Argentina's conditions
Argentines staged loud protests in Buenos Aires and most large cities on Thursday evening, banging pots from balconies, and later applauding, in a show of opposition to the government's release of prisoners, allegedly to slow the spread of the coronavirus.
Uruguayan president Luis Alberto Lacalle Pou and his Argentine peer, Alberto Fernandez held a half-hour video conference Tuesday mid-morning to address the recent decision by the current Argentine administration to freeze Mercosur free trade negotiations with potential new partners and instead concentrate efforts in overcoming the COVID-19 pandemic and its sanitary, social, economic and employment consequences.
The leaders of Argentina and Chile have moved to defuse a recent diplomatic spat after officials in Santiago accused President Alberto Fernandez of “meddling” in Chile's internal affairs after he met with Chilean opposition leaders.
Argentina will extend a mandatory nationwide quarantine period until May 10 in a bid to combat the advance of the coronavirus, President Alberto Fernandez announced on Saturday. The Argentine government-imposed shelter-in-place measure, in effect since mid-March, had been set to expire on Sunday.
Argentina said it didn’t make US$ 500 million in debt payments due Wednesday, starting a 30-day countdown to a possible default unless the government and bondholders can reach a deal on restructuring its massive foreign debt.
Argentina sketched out its debt restructuring proposal to international creditors on Thursday, involving a three-year grace period, large coupon cuts and a smaller reduction in capital, as it looks to win over bondholders to a deal.