News of martin guzman

DEBT RESTRUCTURING

'We resolved an impossible debt,' declares delighted Fernández

Today 14:19 President Alberto Fernández hails government after officials confirm Argentina has reached an agreement with three major creditors over restructuring of US$66-billion debt.

DEBT DEAL AGREED

Government hails ‘significant debt relief’ in accord with creditors

Today 09:44 Deal involves the Ad Hoc, Argentina Creditor Committee and Exchange Bondholder groups, as well as "certain other significant holders," Economy Ministry confirms in a statement.

DEBT RESTRUCTURING

Argentina reaches US$65-billion debt restructuring deal with creditors

Today 08:59 Government says in a statement that deal with key creditors would provide “significant debt relief.” While it statement didn’t provide a net-present value for the agreement, sources say the deal is worth about 54.8 cents on the dollar.

BLOOMBERG

Creditors seek international backing on debt clauses

02-08-2020 17:01 Bondholders approach several international organisations, including IMF and US Treasury, to seek endorsement for a proposal to change the rules that govern some of the country’s overseas securities.

DEBT RESTRUCTURING

Government to seek new IMF plan, regardless of outcome of debt talks

28-07-2020 14:43 Argentina will seek a new programme with the IMF whatever the outcome of talks with bondholders, says Economy minister Martín Guzmán.

DEBT RESTRUCTURING

Debt deal at impasse as creditors unite to reject government's offer

20-07-2020 23:50 Three groups of creditors announce they have rejected Argentina's proposal to restructure US$66 billion of debt and delivered a counter offer to government – which President Alberto Fernández promptly dismisses out of hand.

Bloomberg

Creditors join forces to demand better terms on debt deal

20-07-2020 21:54 Three largest creditor groups join forces in negotiations, rejecting government's "final" offer and submitting their own counter proposal.

DEBT RESTRUCTURING

The ball is in the creditors' court, says Guzmán

16-07-2020 16:55 Economy Minister Martín Guzmán says Argentina is not seeking a "confrontational" relationship in debt talks and says the onus to make a deal is now on the country's creditors.

DEBT RESTRUCTURING

Guzmán rules out changes to offer, but creditors say proposal 'falls short'

09-07-2020 02:37 Economy Minister Martín Guzmán rules out further changes to government's debt restructuring offer as offer wins support from IMF and some G20 finance ministers. Large creditors, however, aren't impressed.

DEBT RESTRUCTURING

This is Argentina's final debt offer, Guzmán tells creditors

08-07-2020 17:33 Economy minister describes talks as "a cold shower of reality for creditors," as they've come to realise Argentina's limitations.

DEBT RESTRUCTURING

Favourable initial reaction to Argentina's new debt swap offer

08-07-2020 16:58 Two investment funds, Gramercy and Fintech Advisory, express approval for Argentina's new debt restructuring offer. Creditors entering the swap stand to obtain 53.5 cents for every dollar loaned as against 39 cents in the first offer rejected by most creditors.

DEBT RESTRUCTURING

Government files new debt restructuring offer with SEC

07-07-2020 14:04 Argentina formally presents its new proposal to the US Securities and Exchange Commission, extending deadline for acceptance to August 4.

DEBT RESTRUCTURING

Fernández: New offer to creditors on way, deadline moved to August 4

05-07-2020 22:10 Argentina to present new offer to bondholders on Monday, with deadline extended until August 4.

DEBT RESTRUCTURING

Two creditor groups mull 'lock-up' to oppose government's offer

03-07-2020 03:47 The Ad Hoc and Exchange Bondholder groups are closely watching to see if the government submits an offer that it has discussed with a third creditor group – the Argentina Creditor Committee – and would reject it.

DEBT RESTRUCTURING TALKS

Government weighs earlier coupon payments as debt talks stall

30-06-2020 19:09 Argentina is considering paying coupons sooner than previously announced, as it aims to close a gap with creditors in debt restructuring talks, according to people with knowledge of the matter.

DEBT RESTRUCTURING

Argentina's creditors urge officials to move ahead on debt talks

30-06-2020 15:10 Creditors groups call for progress on talks, saying the "lack of serious engagement from the Argentine authorities is deeply concerning."

BLOOMBERG

Argentina reached ‘an understanding’ with one creditor group, says Guzmán

25-06-2020 16:30 Argentina reached an understanding – but not an agreement – with one group of creditors, but major differences remain with another key faction, says Economy Minister Martín Guzmán said Thursday.

DEBT RESTRUCTURING

Guzmán says Argentina cannot commit to demand from creditors group

23-06-2020 21:31 Guzmán says Argentina cannot commit to legal terms proposed by one of the leading creditor groups, the Ad Hoc Bondholder Group, but remains open to discussion.

DEBT RESTRUCTURING

Creditors accuse Argentina of 'terminating dialogue' in order to 'provoke division'

20-06-2020 08:46 Ad Hoc and Exchange Bondholder groups says they’re “united in disappointment” about the decision to “terminate dialogue” with creditors and extend talks at a critical juncture of negotiations.

DEBT RESTRUCTURING

Debt restructuring 'progressing,' deadline extended for five weeks

20-06-2020 08:25 Deadline now set for July 24 "to continue discussions and allow the investors to contribute to a successful restructure," the government said in a statement.

DEBT RESTRUCTURING

Creditors' group issues court threat as debt talks hit a wall

18-06-2020 02:19 Talks seemed to have hit a wall, with one government source saying it was "highly unlikely" a deal will be agreed before Friday's deadline.

DEBT RESTRUCTURING

Debt talks with creditors stall amid growing animosity

18-06-2020 01:21 Ad Hoc Bondholder Group, one of several that have been most active in the talks, slammed Argentina for rejecting what it called a “sustainable and sensible solution.”

DEBT RESTRUCTURING

Argentina extends confidentiality agreements with creditors as talks continue

16-06-2020 23:12 Government likely to present its new offer on Friday, with deadline set for another extension until Monday.

Bloomberg

Farmers shun government's solution to debt conundrum

16-06-2020 22:28 Agriculture sector lobbying against the government’s proposal to sweeten an offer on its overseas debt restructuring with payments tied to sector's exports.

BLOOMBERG

Creditors present new debt swap offer, but differences remain

15-06-2020 23:58 Two groups submitted offer to government over weekend, in which they agreed to accept losses on a net-present value basis of about 44% to 46%, according to reports.

DEBT RESTRUCTURING

Fernández: Argentina working on improved offer to creditors

15-06-2020 09:00 "We all want to avoid default, but we are acting with economic rationality," declares Peronist leader, confirming a new improved offer is on the way.

DEBT RESTRUCTURING

Argentina extends debt offer deadline as talks start wrapping up

12-06-2020 17:39 The country will push back the deadline by a further week to June 19, according to a statement from the Economy Ministry.

Another debt deadline day

Government prepares new proposal for creditors, extension likely

12-06-2020 02:58 Government expected to deliver new proposal to bondholders on Friday, with likely deadline extension to follow.

DEBT RESTRUCTURING

Fernández says Argentina will improve its debt offer to creditors

11-06-2020 01:51 "The offer that we are going to make is not going to put at risk the sustainability of the debt and the Argentine economy," president declares in interview.

DEBT RESTRUCTURING

IMF remains 'hopeful' Argentina and creditors will agree debt deal

04-06-2020 16:48 "We are hopeful that an agreement can be reached that will restore the sustainability of the debt," IMF spokesperson Gerry Rice tells reporters.

Congress

Fernández confirms government will impose one-off wealth tax

03-06-2020 15:09 President says the introduction of a capital levy would be a one-off “extraordinary measure." Lawmakers say bill would boost government coffers by between US$2.5 million and US$4 billion.

DEBT RESTRUCTURING

IMF backs Argentina's debt offer, saying only 'limited scope' to improve it

01-06-2020 15:21 IMF makes another public push to support the government’s debt restructuring offer, saying there's here’s little room to further increase payments to private creditors.

DEBT RESTRUCTURING

Government, creditors move closer to a deal as deadline looms

30-05-2020 08:29 While still at odds over several key issues, the latest changes in the proposals by the government and two groups of creditors published Thursday signal the difference between both sides is narrowing.

DEBT RESTRUCTURING

Government improves debt offer, rejects counter-proposal

29-05-2020 02:41 Debt talks heat up: Government rejects one offer then makes another, offering to trim payment moratorium to two years instead of three. Guzmán says there's still "an important way to go" before a deal will be reached.

DEBT RESTRUCTURING TALKS

Argentina aiming to sign new IMF programme in 2020, says Guzmán

28-05-2020 23:30 "It is something that is going to happen in the course of 2020," says Economy Minister Martín Guzmán.

Bloomberg

New York lawmakers’ last-minute move may cost Argentina dearly

27-05-2020 15:29 Investors could sue the country for full repayment if debt restructuring discussions turn sour, and that’s when an expensive quirk of New York state law could become a big problem.

BLOOMBERG

Argentine bonds rise after default as investors await deal

26-05-2020 15:04 Bonds due in 2036 climb 2.3 cents to 33.2 cents on the dollar. Famed century bond follows suit, jumping 3.3 cents to also trade at 33 cents.

BLOOMBERG

Now in default, Argentina plans improved offer for creditors

26-05-2020 09:22 While bondholders now have the option to take Argentina to court to sue for full repayment, creditors said last week that legal action against the country would be counterproductive.

DEBT RESTRUCTURING

Debt renegotiations to continue – with confidentiality agreements

24-05-2020 18:22 Economy Ministry asks bondholders negotiating with it to sign a confidentiality agreement, after government extends deadline for talks to June 2.

DEBT RESTRUCTURING

Government to rework debt offer after missing interest payment

22-05-2020 23:05 Counter-offers submitted by bondholder groups are better than their original proposals, yet still far from what the country considers sustainable, says Martín Guzmán.

BLOOMBERG

Argentina faces ninth default with bondholder talks extended

22-05-2020 13:15 Argentina’s Ambassador to the United States Jorge Argüello publishes letter saying the government won't meet payment due today until a new agreement is reached with creditors.

DEBT RESTRUCTURING

Default looms for Argentina despite debt deadline extension

22-05-2020 13:15 Argentina was teetering on the brink of a second default this century on Friday as the deadline for a US$500-million bond interest repayment approached.

DEBT TALKS

Economy Ministry extends deadline for debt talks to June 2

22-05-2020 03:12 Government will miss US$500-million payment due today; Economy Ministry extends deadline for negotiations with creditors for 10 days.

DEBT RESTRUCTURING

'Any kind of default could be cured in short order,’ says creditor group

21-05-2020 13:39 While some kind of default in Argentina is likely, investors said a default wouldn’t be immediately followed by litigation because taking legal action amid the talks solves nothing.

DEBT RESTRUCTURING

Government to extend debt offer as talks continue past Friday

21-05-2020 13:23 Argentina will skip delayed US$500-million interest payment on Friday, but plans to extend talks by at least 10 days, sources say.

DEBT RESTRUCTURING

Creditors, government still far apart on debt offers as deadline looms

19-05-2020 18:02 In a webinar, Economy Minister Martín Guzmán says he expected negotiations to extend past May 22. Two sides remain some way apart, just days before default deadline arrives.

BLOOMBERG

Argentine bonds climb on hopes new offers will spark a deal

18-05-2020 16:42 Rally extended after largest creditor groups present new debt restructuring counter-proposals, fuelling speculation the parties could be closer to reaching a deal.

DEBT RESTRUCTURING

Government studies counter-offers as debt talks enter crucial week

17-05-2020 21:22 Government is continuing to analyse three counter-offers from creditors they hope will break the debt deadlock.

DEBT RESTRUCTURING

Creditors submit new debt proposals to government

15-05-2020 23:22 Argentina’s largest creditors have sent Alberto Fernández’s government new counter-offers in an effort to reach a US$65-billion restructuring deal in the coming week.

DEBT RESTRUCTURING

Argentine bonds climb as creditors, government narrow the gulf

15-05-2020 15:51 Argentine bonds rose Friday on optimism that the government and its creditors will seal an agreement to restructure US$65 billion in foreign bonds.