Argentina misses deadline on international debt agreement

Sun Online Desk

10th May, 2020 03:10:01 printer

Argentina misses deadline on international debt agreement

 

Argentina missed a Friday deadline to reach an agreement with international creditors to restructure its massive debt, but negotiations will continue, its minister for the economy said, AFP reported.

The two sides have been deadlocked over Argentina’s $65 billion debt, with the three main bondholder groups rejecting a government restructuring proposal, saying they were unwilling to swallow “disproportionate” losses on their investment.

“Argentina is maintaining a dialogue,” economy minister Martin Guzman told reporters on Friday.

A 30-day grace period for a $500 million bond payment that Buenos Aires has already missed expires on May 22.

 


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