The negotiations, which started on April 20, have been extended several times, and were scheduled to end on July 24, but the government extended them until August 28 to reach an agreement.
3 groups creditors regret negotiating with Argentina On the rescheduling of $ 66 billion of debt, the end of June, “in the absence of a serious commitment” by Buenos Aires “To avoid the repercussions of a long default.”
The negotiations deal with bonds dating back to 2005 and 2010 that resulted from a previous rescheduling, in addition to new financial bonds issued as of 2016. The first offer was made in May, but was rejected by most creditors, stipulated a three-year payment period and reduced 62 percent of interest and 5.4 percent of The origin of religion.
According to a government source, the official offer rose to “about $ 53” for every $ 100, while the previous offer was $ 39 for every $ 100.
Argentina has been in arrears since May 22 and had to pay on that date $ 500 million in interest on 3 bond issues that are being negotiated, but negotiation continues.
Alberto Fernandez emphasized that the negotiations are “in an advanced stage”, and a proposal must be published Argentine government In the Official Gazette and then presented to the New York Stock Exchange and Securities Committee.
But the government’s margin of maneuver is narrow, with stagnation Argentine economy Since 2018, poverty has reached 35 percent, inflation recorded at 53 percent in 2019, in addition to the repercussions of the Covid-19 epidemic.
The President condemned the conditions accepted by the government of his predecessor Maurizio Macri, and said, “If we analyze all this rationally, (we will find that we) are not asking creditors to lose, but rather to stop collecting additional profit.”
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And Fernandez To Millennium Radio, “The new show will be announced today. It will be open until the end of August. We are making an enormous effort.”
The negotiations, which started on April 20, have been extended several times, and were scheduled to end on July 24, but the government extended them until August 28 to reach an agreement.
3 groups creditors regret negotiating with Argentina On the rescheduling of $ 66 billion of debt, the end of June, “in the absence of a serious commitment” by Buenos Aires “To avoid the repercussions of a long default.”
The negotiations deal with bonds dating back to 2005 and 2010 that resulted from a previous rescheduling, in addition to new financial bonds issued as of 2016. The first offer was made in May, but was rejected by most creditors, stipulated a three-year payment period and reduced 62 percent of interest and 5.4 percent of The origin of religion.
According to a government source, the official offer rose to “about $ 53” for every $ 100, while the previous offer was $ 39 for every $ 100.
Argentina has been in arrears since May 22 and had to pay on that date $ 500 million in interest on 3 bond issues that are being negotiated, but negotiation continues.
Alberto Fernandez emphasized that the negotiations are “in an advanced stage”, and a proposal must be published Argentine government In the Official Gazette and then presented to the New York Stock Exchange and Securities Committee.
But the government’s margin of maneuver is narrow, with stagnation Argentine economy Since 2018, poverty has reached 35 percent, inflation recorded at 53 percent in 2019, in addition to the repercussions of the Covid-19 epidemic.
The President condemned the conditions accepted by the government of his predecessor Maurizio Macri, and said, “If we analyze all this rationally, (we will find that we) are not asking creditors to lose, but rather to stop collecting additional profit.”
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