August 4, 2020

Argentina announces debt restructure deal with creditors

Buenos Aires (AFP) – Recession-hit Argentina announced on Tuesday it has reached an agreement with three major creditors over the restructuring of a $66 billion debt as it seeks to solve its latest sovereign default crisis.The government of President Alberto Fernandez had set an August 4 deadline to complete a deal but it has now pushed the date to August 24 “to give effect to the agreement,” which came after months of wrangling and extensions.Argentina’s economy ministry said in a statement that the deal¬†“will allow members of the creditor groups and such other (bond) holders to support Argen…


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