The Ministry of economy announced this afternoon that negotiations with creditors, which were on Friday, were extended until 19 June. In a statement, the portfolio conducted by Martín Guzmán reported that it “extended for an additional period the expiration of the invitation” to bondholders.
The Palacio de Hacienda noted that Argentina and its advisers “intend to take advantage of this extension to continue discussions and allow investors to continue contributing to a successful debt restructuring.” Guzman is finalizing the details to submit the final offer to creditors, after weeks of progress towards a common point. It is expected to end with an offer that most of the bondholders will accept.
“The Republic is looking at these suggestions to maximize investor support while preserving its debt sustainability objectives,” the statement said. He added that “Argentina firmly believes that a successful debt restructuring will help stabilize the current economic condition, mitigating medium- and long-term constraints on Argentina’s economy, which were created by the current debt burden, and re-channeling the country’s economic trajectory to long-term growth.”
