translated from Spanish: Debt: Argentina opens “grace period”

The Ministry of Economy officially confirmed that it did not pay for the debt vents of this day and opened the grace period that runs until 8 May. “The Argentine Republic reaffirms its willingness to pay even in the very serious international context that has been generated by the COVID-19 pandemic,” said a statement from the Palacio de Hacienda.

This April 22, they won three $500 million bonds that he hopes to restructure with the offer raised the previous week by Economy Minister Martín Guzmán.” It is in the context of the launch of this offer, the terms of which expire on 8 May 2020, that the Republic decided to use the grace periods provided for the income services of the bonds that were not paid today,” the ministry’s statement said.

The payment of external debt should not compromise the future of Argentines and Argentines. We must return to the path of sustainability. I am grateful for the support of the Argentine proposal by the governors and legislators of all political forces. pic.twitter.com/4plc1FhKIh— Martín Guzmán (@Martin_M_Guzman)
April 16, 2020

The bond from which Argentina does not pay its interest today was issued in April 2016 by Alfonso Prat Gay and Luis ‘Toto’ Caputo under US legislation.” The aim is to carry out a debt swap operation that is effective in restoring the sustainability of public debt in foreign currency,” the statement added.

Original source in Spanish