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 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 deadline 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 Argentina’s debt restructur…

source https://this.kiji.is/en/663354421876868193?c=648607265489716321

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