Argentina's President Alberto Fernandez said on Saturday that talks with bondholders to restructure $65 billion of the country's foreign debt would continue with the two sides still deadlocked over what the final offer should look like.
BUENOS AIRES - Argentina’s President Alberto Fernandez said on Saturday that talks with bondholders to restructure $65 billion of the country’s foreign debt would continue with the two sides still deadlocked over what the final offer should look like.
“The possibility of extending the offer continues until Monday, May 11,” he wrote. “When this term expires we will define the steps to follow. As always, our goal is to make commitments that we can meet.” Argentina faces a $500 million interest payment on May 22 when a 30-day grace period expires, which if not met would tip the country into default.
Argentina’s financial situation has been complicated by a nationwide quarantine announced on March 20 to prevent the spread of the new coronavirus.
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