The Government has decided to postpone the sending of a bill to restructure local debt repayments, say sources close to the Casa Rosada.
The decision was taken after a meeting at Government House attended by Interior Minister Rogelio Frigerio and other officials.
The Mauricio Macri administration recently announced it would postpone US$7 billion of payments on short-term local notes held by institutional investors this year and will seek the “voluntary reprofiling‘’ of US$50 billion of longer-term debt. Finance Minister Hernán Lacunza also said the administration would also start talks over repayments on US$44 billion it has received to date from the IMF.
The Government's original intention was to submit its legislative project on Monday. But after talks with the legislative branches of the Cambiemos coalition, the Executive has instead decided to seek consensus with opposition lawmakers beforehand. Officials will also seek to discuss points informally with the nation's governors, in order to sure up its foundations.