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What next after Argentina’s debt agreement

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By | [email protected] | August 10, 2020 7:23am

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Argentina finally secured an agreement with some of the world’s biggest asset managers to restructure the New York-based tranche of its defaulted debt, totaling USD 65 billion, with Economy Minister Martín Guzmán and Blackrock, Ashmore, Fidelity and other giants simultaneously confirming the news this Tuesday following 8 months of negotiations.

The deal had been brewing for some time, so stocks and bonds did not rally much beyond a few hours of euphoria immediately after the announcement, but the government has already moved forward with the next step of its plan, passing a bill to offer a similar bond swap to investors currently holding Buenos Aires-based debt.

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