direct: Argentina’s talks with international creditors on restructuring the debt have reached a dead end, with the government intending not to make more concessions after an improved offer recently.
An unnamed Ministry of Economy source told Reuters on Thursday that his country was committed to its latest proposal, with a net value of about 50 cents per dollar and guarantees linked to Argentine exports, an offer that was shared with creditors during recent talks.
In the talks, Argentina is seeking to restructure about $ 65 billion of debt, which has become unsustainable after negotiations were extended more than once, to make the South American country a date with an extended period of default.
The source added: “The government believes that the creditors’ proposal has an unsustainable cost for the Argentine people.”
The group of principal bond holders had said in a statement that the Argentine government had moved away from a proposal by the creditors, describing the talks as “failed”.
While the Argentine Ministry of Economy stated in a statement yesterday that it cannot “adhere responsibly” to the conditions offered by creditors, adding that some of them “are largely inconsistent with the debt sustainability framework necessary for Argentina to restore macroeconomic stability and make progress toward a program with the IMF International. “
“Moreover, the negotiation process with our investor community revealed that investor requests differ greatly and cannot be reconciled easily.”
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