As part of debt renegotiations that do not yet have a clear horizon and with May 22 as the “deadline” to default, Economy Minister Martín Guzmán said there is a “high probability that the deadline will be extended.”
The first offer that Argentina sent just under a month ago received a very high rejection rate from the bonistas, who at the end of the week passed sent three counter offers on which the government works but which probably will not reach an agreement by Friday. The official noted that it is “in a process in which both sides are working to reach an agreement” after weeks of tension over the first offer.
A future with opportunities for all and all requires sustainable debt. We thank the creditors who supported our proposal. Until this Monday, there’s time to extend it. Dialogue continues towards an agreement that Argentina and its creditors can sustain. https://t.co/QSit8D4Vfs— Martín Guzmán (@Martin_M_Guzman)
May 9, 2020
We are in a process of negotiating with creditors fully committed to solving the debt problem,” Guzman said in dialogue with American entrepreneurs sponsored by the U.S. Chamber of Commerce in Argentina. The Argentine government’s goal is for the debt agreement to be “sustainable” and Argentina to be able to pay it off. Friday’s maturity is $500 million, while the total figure to be renegotiated is 68 billion in the U.S. currency.