Argentina on brink of new default but bondholders to provide leeway

Argentina, waterfall, brink, tension, LatAm, 575
By Oliver West
21 May 2020

Argentina is set to enter default on its international debt for the ninth time on Friday, but the sovereign curve performed well this week as investors and analysts say that creditors will continue negotiations well after the grace period on $503m of coupon payments expires.

On May 15, three major creditor groups submitted their own proposals for Argentina’s debt restructuring, having rejected the government’s initial offer back in April. The counterproposals came after finance minister Martín Guzmán had finally softened his stance; he had previously insisted that he could not improve upon ...

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