Argentina's talks with creditors over restructuring around $65 billion in foreign debt could reach a breakthrough 'in a matter of days,' a source close to the negotiations and familiar with the government's thinking told Reuters on Friday.
BUENOS AIRES - Argentina’s talks with creditors over restructuring around $65 billion in foreign debt could reach a breakthrough “in a matter of days,” a source close to the negotiations and familiar with the government’s thinking told Reuters on Friday.
“There has been notable progress and a comprehensive deal is certainly possible in a matter of days, not months,” the person said, asking not to be named as the talks were private. The South American grains producer is at a critical point in bondholder talks that are key to avoiding a messy default like the one in 2001 that locked the country out of the international bond market for 15 years and tossed millions of middle-class Argentines into poverty.
Argentina, already in recession before the economy got further drubbed by a coronavirus lockdown that began in March, has pushed the deadline for a deal to June 2 amid signs the two sides may be edging closer to an accord.
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