Argentina’s debt restructuring deal explained
04 August 2020 | 3:46 pm
The Argentine government has struck a substantial debt deal with some major creditors, saving it billions. What exactly is the deal about and could it save the ailing economy?
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A group comprising three of Argentina's biggest creditors has described a government proposal to restructure debt as "short of what the creditor groups can accept." The government said it has little room to maneuver.
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Argentina has defused fears of a messy default after it gained backing from creditors, allowing it to exchange 99% of the bonds involved in a $65 billion restructuring, a deal that could set a precedent for future sovereign crises.
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