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.
Argentina is expected to announce an offer to restructure US$ 83 billion in foreign-currency bonds any moment as it tries to avoid default, despite shutting down the economy to contain the spread of the coronavirus.
President Xi Jinping said China is ready to continue sharing COVID-19 prevention and control experience with Argentina and offering assistance within its capacity. Xi made the remarks in a recent exchange of messages with Argentina's President Alberto Fernandez.
Argentina will extend until April 27 the lockdown it imposed last month to control the spread of the coronavirus, President Alberto Fernandez said in a televised address on Friday, adding that the measure would be applied only in major cities.
Argentina is postponing payments on up to US$ 10 billion debt (interests and capital) that was issued under local law until the end of the year, the government said in a decree late on Sunday, in a bid to relieve pressure over looming foreign currency payments.
Moody's downgraded Argentina’s credit rating on Friday, cutting it to Ca from Caa2 in a move that reflects the firm’s expectation that private creditors will incur losses as a result of the government’s efforts to restructure its sovereign debt.
On April 2nd we claim sovereignty over our Malvinas Islands was the message twitted by Argentine president Alberto Fernandez on the Malvinas War Veteran and Fallen Day, outstanding date in the official calendar of the country which recalls that 38 years ago, Argentine forces invaded the Falklands, triggering a conflict that would end 74 days later.
Argentina will continue talks this week and next with creditors over restructuring its US$ 83 billion in foreign debt, Economy Minister Martin Guzman said after the country missed the March 31 deadline it had set previously.