News of default

IMF and Argentina making 'good progress' on new financing plan

22-11-2020 15:13 IMF mission team ends visit to Buenos Aires, saying that talks over a new financing plan are progressing well, with the two sides beginning to “delineate the contours” of a new deal.

Peronist senators amp up rhetoric with scathing letter to IMF chief

16-11-2020 18:05 With government in talks over new financing programme, senators from ruling Frente de Todos coalition fire off letter to IMF chief Kristialina Georgieva demanding organisation “refrain from conditioning economic policy.”

Cafiero confirms government wants to postpone IMF debt repayments

07-10-2020 17:56 In address to Senate, Cabinet Chief Santiago Cafiero confirms government will ask the International Monetary Fund to postpone scheduled repayments on a US$44-billion loan.

IMF vows not to put 'pressure' on Argentina over loan

07-10-2020 00:52 Kristalina Georgieva says IMF has "no intention of putting pressure on Argentina at this time," as negotiators from Fund arrive in Buenos Aires for talks.

Argentina yield curve inverts as forex controls spook investors

23-09-2020 16:36 Less than a month after Argentina’s US$65-billion debt restructuring, bond prices show growing concern the government may struggle to pay its obligations.

Guzmán: Argentina wants IMF deal with no payments until 2024

13-09-2020 22:50 Economy minister says Argentina wants to delay all IMF loan repayments until 2024 at the earliest in interview with La Nación.

Inside the frenetic days that changed Argentina’s debt talks

08-08-2020 09:15 After many months of tension, talks that dragged on for eight months, half-a-dozen deadline extensions, multiple proposals, and tens of hours of online negotiations, a deal has been reached.

Goodbye default my old friend

08-08-2020 08:44 The ultimate question is if this agreement will spare Argentina the ordeal of holdout bondholders – Guzmán will have conjured a miracle if there are none to worry about once this deal is done.

by Martín Gambarotta

China will soon come a-calling

04-07-2020 09:25 The coronavirus plague has harmed China’s international reputation, but it has also weakened many developing countries to such an extent that they will find it all but impossible to turn down offers of financial help.

by James Neilson

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.”

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.

S&P, Fitch officially lists Argentina as in default

27-05-2020 00:34 Argentina’s ninth default on external debt is now official after Fitch and S&P cut bond ratings to default status.

Feud with BlackRock escalates as debt talks get heated

16-05-2020 10:53 The govenrment’s debt restructuring talks with foreign creditors are getting heated, and one Wall Street firm – BlackRock Inc – is a big part of the reason why.

Still quarantined after all these days

16-05-2020 08:00 If the funds are playing the instability game to trigger a political crisis, it’s not happening right here and now. Most of the centre-right opposition leaders holding office have had no choice but to close ranks behind Fernández, who is extremely popular according to polls.

by Martín Gambarotta

When default comes by default

18-04-2020 10:36 The government said everything and nothing on Thursday but it might as well have said nothing, given the extreme flux in which the economy is drifting both here and abroad. This seems to have been implicitly recognised by debtor and creditors alike.

Argentina’s coronavirus default dance

18-04-2020 09:46 It sounds like a decent deal for Argentina, even if it’s impossible to put together sound economic projections in the midst of the global coronavirus pandemic. Yet, those sitting on the opposite side of the negotiating table feel it’s too good for Argentina.

by Agustino Fontevecchia

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.

Merval slumps 14% amid virus fears, country risk soars above 4,000 points

18-03-2020 18:03 As global markets take huge hits, benchmark Merval index of Buenos Aires Stock Exchange plunges more than 14 percent; Country risk rose to 4,040 points, a height not seen since June 2005.

Guzmán heads home after meeting bondholders in United States

27-02-2020 07:00 Economy minister flies back to Buenos Aires after meeting with Argentina's creditors and officials from IMF in United States, as debt restructuring talks continue.

La Rioja Province late on bond payment, will seek talks with creditors

26-02-2020 18:54 Authorities in La Rioja say province facing difficulties in making interest payments for US$300M in bonds due 2025 and plans to initiate consultations with bondholders.