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Progress in the framework of the restructuring of Argentina’s debt with the extension of the deadline

The president said Alberto Fernandez said that Argentina’s negotiation with the creditors on the debt restructuring plan of $ 66 million to make progress, as the deadline is extended again to conclude the agreement.
Said Fernandez to Radio Nacional that “the negotiations are progressing on and off. In 2005, when we re-negotiate the debt, it took a year. Now been two months or three months and demand of result. What is required is to alleviate anxiety and continue”. Have extended the Argentina’s deadline for the fourth time, according to”French”.
The government said in a statement that the new deadline set Leo 24 July “to continue the discussions and let the investors to contribute in the successful restructuring”.
Reflected this news increased by 8 per cent on the stock exchange of Buenos Aires. Came during the week it seemed that the talks of re-thinking has collapsed after it revealed a group of creditors representing 13 Fund international Tuesday night they wouldn’t accept the offer Argentina last and were considering referring the South American country to court in New York.
Received of Argentina, which recovered from the crisis that has proposed an alternative offer to bondholders under foreign law, but still expected to find common ground on interest rates and the grace period.
Added Fernandez, “we are confident that we will reach agreement. But these-19 hold things perfectly. Many creditors are waiting for the expiration of the pandemic to negotiate in better conditions”.
Increased pandemic, the suffering of the Argentine economy which is already suffering from two years of recession is expected to shrink by 6.5 per cent this year.
It’s been almost a month since I got rid of Argentina defaulting for the ninth time after their failure in the payment of $ 500 million of interest on debt of its bonds, knowing that it is leading the world in food exports.
I got Argentina which is locked in difficult negotiations on support from the International Monetary Fund in attempting to reach agreement with creditors, but Fernandez insists that any new deal must be sustainable.
The government asked in its offer the original to the creditors in April of the bond holders a grace period of three years to repay the debt, a reduction by 62 per cent of interest that up to $ 37.9 million, and 5.4 per cent on capital, or $ 3.6 million.
Refusal to creditors that the government has refused its terms, but she insists that she will not provide creditors more than 50 cents on the dollar, while the committee negotiations, she will not accept less than 55 cents.
Represent the bond that keeps Argentina spent nearly five of the country’s debts amounting to $ 324 million and represent about 90 per cent of its gross domestic product.
Approximately 35 per cent of its population of 44 million people in poverty.

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