News of martin guzman

DEBT RESTRUCTURING

Debt renegotiations to continue – with confidentiality agreements

Yesterdat 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.

BLOOMBERG

What you need to know about Argentina’s debt crisis: Q&A

14-05-2020 12:51 Argentina is just a week away from a deadline to avoid a chaotic default, its ninth since independence in 1816. Here's what you need to know.

BLOOMBERG - OPINION

Mohamed A. El-Erian: Argentina gives debt negotiation another chance

12-05-2020 09:17 The change in the government stance kicks the ball back to the creditors, raising two dynamics that may be best viewed through a game-theory lens.

BLOOMBERG

Stiglitz: Creditors to shoulder blame if Argentina defaults

11-05-2020 22:42 “If creditors don’t put forward a sustainable offer, Argentina has no choice; it’s creditors who are really driving the default here,” declares Nobel-winning economist.

DEBT RESTRUCTURING

Government extends debt deadline until May 22

11-05-2020 08:38 Deadline has been extended to May 22 after bondholders opposed the offer. The previous cut-off was May 8, and the extension means results will now be announced on May 25 and liquidated on May 27.

BLOOMBERG - OPINION

For Argentina, coronavirus is a matter of life or debt

11-05-2020 08:00 So profound are Argentina’s self-made misfortunes that an imported contagion and the economic turmoil it has wrought have thrown out an unexpected lifeline.

by Mac Margolis

DEBT SWAP PROPOSAL

Government extends offer to restructure debt until Monday

10-05-2020 09:11 "The possibility of extending the offer continues until Monday, May 11. When this term expires, we will define the steps to be followed," President Fernández tweeted Saturday.

DEBT RESTRUCTURING

Fernández: Argentina awaiting debt counter-offers from creditors

09-05-2020 14:30 Speaking in an interview with Futurock radio, the president said that Argentina wants to avoid default, and that he expects counter-proposals in coming days after the nation blew past a deadline for bondholders to accept a US$65-billion restructuring offer. The deadline passed on Friday afternoon with no signs of a deal, acceptance rate or an extension.

BLOOMBERG

Debt deadline passes with no sign of deal, extension

09-05-2020 10:05 Deadline for bondholders to accept a US$65-billion restructuring offer from government passed Friday afternoon with no signs of a deal, acceptance rate or an extension.

DEBT SWAP PROPSAL

Argentina misses deadline on international debt agreement

09-05-2020 08:46 "Argentina is maintaining a dialogue," Economy Minister Martín Guzmán told reporters on Friday.

BLOOMBERG

Guzmán: Argentina is open to new debt offers from creditors

06-05-2020 23:16 Argentina and its biggest creditors have begun ironing out possible revisions to the country’s US$65-billion debt restructuring proposal before crucial bond payments come due later this month.

Bloomberg

Argentina, creditors said to look past May 8 deadline for debt deal

06-05-2020 08:12 Officials have shown some willingness to improve the terms of the exchange, and the bondholders have pared some of their initial expectations, according to reports.

PARIS CLUB DEBT

Guzmán says Argentina will miss US$2.1B Paris Club debt payment

05-05-2020 19:00 Economy Minister Martín Guzmán confirms in interview that Argentina has missed a US$2.1-billion debt payment to the Paris Club, seeking restructuring.

Debt restructuring

Government weighs options after rejecting bondholder debt offer

05-05-2020 13:30 Argentina will continue to negotiate with its creditors to reach a debt agreement after rejecting an offer from a group of bondholders led by BlackRock Inc.

DEBT RESTRUCTURING

Creditors: Debt swap offer imposes 'unjustified, disproportionate losses'

04-05-2020 13:40 Three creditor groups on Monday rejected the debt restructuring offer made by Argentina's government for US$66 billion in bonds, saying the proposed haircut on their investment is too steep.

BLOOMBERG

Bondholders and government officials trade barbs on debt plan

04-05-2020 13:18 With an initial deadline for an accord looming on Friday, both sides are digging in.

DEBT SWAP PROPSAL

Government claims support for debt swap offer is growing

03-05-2020 16:45 Economy Minister Martín Guzmán says he has noticed a "growing understanding" among bondholders and that investors have "expressed support" for debt restructuring deal.

BLOOMBERG

Argentina will work with debt holders if offer is rejected, says Guzmán

03-05-2020 16:32 Economy minister says government is willing to keep working toward a deal to restructure its debt if an offer that expires on Friday is rejected.

DEBT RESTRUCTURING

Guzmán asks creditors to 'avoid destructive patterns of the past'

03-05-2020 16:20 Economy minister pens column for Britain’s influential ‘Financial Times’ daily, reiterating that Argentina cannot pay more than what’s on the table in US$65-billion debt restructuring deal.

BLOOMBERG

Argentina and creditors at loggerheads over take it or leave it offer

28-04-2020 22:50 Relations are so tense that most large bondholders have even refused to attend video calls with Economy Minister Martín Guzmán, according to reports.

BLOOMBERG

Officials begin 'virtual' roadshow as part of debt restructuring efforts

27-04-2020 08:17 Officials from national and Buenos Aires Province governments to call on about 20 institutions and funds to present their offer to restructure more than US$79 billion in debt.

DEBT RESTRUCTURING

Bondholders pan Argentina's restructuring offer, prepare for battle

20-04-2020 15:17 The Argentina Creditor Committee says it “cannot support” the nation’s restructuring proposal and the government’s actions have “fallen well short of bondholders’ expectations,” as talks with officials step up.

ECONOMY MINISTER

Guzmán backs wealth tax, rules out austerity measures in interview

20-04-2020 15:12 Economy Minister Martin Guzmán backs idea of a wealth tax on the country’s richest individuals and firms in an interview with Horacio Verbitsky.

DEBT RESTRUCTURING

Government finally unveils foreign debt restructuring proposal

17-04-2020 02:25 Economy Minster Martín Guzmán asks bondholders to accept cut of 62% on bond interest, worth US$37.9 billion, and 5.4% on debt capital, worth another US$3.6 billion. It will also seek a three-year grace period until 2023.

BLOOMBERG – ANALYSIS

Argentina makes opening move in debt talks

17-04-2020 01:12 The highlights: a three-year moratorium, a 62 percent reduction in interest payments and a five-percent cut in the value of the principal.

BLOOMBERG

Argentina seeks to cut foreign bond interest payments by 62%

16-04-2020 17:40 Investors are being asked to accept a three-year moratorium on payments and a 62 percent haircut on the interest they’re owed, Economy Minister Martín Guzmán told reporters.

IMF BACKS B.A.

IMF chief Georgieva: Argentina faces a particularly 'difficult' moment

16-04-2020 08:42 "It is really a difficult time for everyone, but in particular, it is difficult for countries that entered this crisis facing already complex challenges," says IMF chief Kristalina Georgieva.

DEBT SWAP PROPSAL

Argentina’s debt swap proposal to bondholders is imminent

15-04-2020 12:33 Presentation of proposal to bondholders due any day now, after government files statement with SEC to issue more than US$50 billion in debt securities.

BLOOMBERG

Suspension of local debt payments shows not all bondholders are equal

06-04-2020 16:11 Plan to stop payments on some dollar-denominated debt burns investors who put their faith in domestic bonds, improves outlook for holders of international notes.

Coronavirus pandemic

Government postpones local debt payments due in dollars until end of year

06-04-2020 09:23 The government has issued a decree to defer close to US$9.8 billion in local dollar-denominated debt payments until 2021.

Bloomberg

Government to press on with debt talks amid virus delays, says Guzmán

01-04-2020 08:33 The government is continuing negotiations with bondholders this week and next, and looking to present an offer at some point after that, Economy Minister Martín Guzmán tells reporters.

DEBT TALKS

Government warns creditors that virus crisis will delay 'uncertain' recovery

23-03-2020 08:11 "The debt is not payable due to the critical situation in the country, in a context in which interests have grown rapidly," he said.

Debt restructuring

Argentina pushes forward 311 billion pesos with latest swap

20-03-2020 18:37 Alberto Fernández administration managed to swap a debt of 311 billion pesos, reducing short-term domestic obligations while renegotiating the foreign debt with creditors.

Coronavirus Pandemic

Argentina to build 8 emergency hospitals to help fight coronavirus, says Fernández

18-03-2020 13:28 “We are going to work tirelessly to complete the projects quickly,” the president promised after announcing multi-million-peso measures to tackle the pandemic.

CORONAVIRUS CONSEQUENCES

Coronavirus casts another shadow over Argentina’s economy

14-03-2020 08:48 Consultancy firms predict outbreak will deepen economic turmoil in 2020, shaving as much as 0.5% off GDP

by Fermin Koop

Bloomberg

BlackRock, Pimco fly to Argentina for private talk on debt

04-03-2020 16:58 Some of Argentina’s largest creditors flew to Buenos Aires for talks with Alberto Fernández’s government this week.

Debt talks

Argentina hires Morrow Sodali as it asks bondholders to come forward

04-03-2020 12:26 Government recruits leading banks to help restructure debt. On Tuesday, New York-based firm Morrow Sodali was contracted to help identify bondholders.

DEBT RESTRUCTURING

Sustainability the focus as IMF mission team returns to Buenos Aires

02-03-2020 14:50 IMF mission team due in Buenos Aires for new talks with Economy Minister Martín Guzmán and other government officials.

by Luis Di Lorenzo

MISSION TEAM

Fernández praises Guzmán as IMF confirms team will visit next week

28-02-2020 13:52 International Monetary Fund confirms it will send a mission team to Buenos Aires again next week to continue auditing public accounts.