The Argentine government reported on Saturday that the offer prepared on July 6 for the renegotiation of the debt is the final one and urged creditors to accept it.” Argentina has the full intention of reaching a sustainable agreement that does not subject its people to further suffering and anguish,” said an official statement.
The Ministry of Economy reiterated on several occasions, the last of them through Martín Guzmán in dialogue with TN’s Truth/Consequence program, which was the last offer since accepting the counter offer of the three majority groups of bondholders would involve “adjusting retirements”. This position from the minister was supported by vice-president Cristina Kirchner, on which all the spaces of the governing coalition were folded.
“With this conviction, our country encourages the creditor community to accept it, knowing that if this is not the case, all future negotiations will be more complex because the more difficult the situation facing Argentina will be,” the statement said. The Government stated: “Those aspects of the counterproposal seeking to impose additional burdens on an economy that is drowning in the midst of coVID-19 crisis, where a huge effort has been made to preserve human life at the expense of the immediate well-being of the population, must know that their claims cannot be accommodated.” However, Guzman said they are willing to discuss legal clauses “that improve the success of sovereign debt restructuring initiatives when debtors have significant support from creditors.”
