English Deutsch Francais Español Portugues Italiano

Argentina asks for consent to delay payment of its debt

2020-01-14 18:17:42

We will speak with the details regarding the fact that Argentina is asking for consent to delay payment of its debt.

 It was requested to the holders of the 2021 bonds by Argentina to delay payment of its debt, which at the end of this month will expire, certainly is being sought by the Argentine issuers to relieve the burden of debt and therefore begin discussions with creditors which are now under the administration of Alberto Fernandez at present, for more details on this matter we must pay attention to the following content.

Why does Argentina want to delay its debt payments?

 It is very certain that by January 22 at least 75 percent of the bond holders will accept the proposal to delay the capital payment on January 26 and until May 1, thus making modifications to the terms of the bonds, the government presents a debt of $250 million of capital in the values 2021 at the end of this month, certainly we have that there is uncertainty about it, which has caused affectations to the holders of bonds in recent days, but with the price presenting a variety between 60 and 60 cents of dollar, a fall of 9 cents of the bonds was seen on Monday, this happened at the moment that the minister of economy declared that there would not be a turn of rescue fund for the province, highlighted again by the president of this nation on Monday night.

With several maturities coming up, could this be the first test facing the current administration?

 Certainly this will be a complex situation for the current administration, since it must face the imminent maturities, we have that the government already lost proposals from creditors and advisors as to what to do with the debt burden so that it is sustainable and modify that agreement of 56 billion with the IMF, it is 74 percent likely that Argentina will default in the next 12 months, data that are provided by the CMA based on the credit default swaps.

 At the end of this article, in which our content presented here consisted of the conversation regarding Argentina's request for consent to delay its debt payment, it is expected that the interest for our readers will be found in this one.

Other Articles Related

  • How coronavirus will affect the world economy
  • Market: Dow closes above 29,000 as market rally continues
  • Computer sales rose by 2.7% in 2019
  • Global Stock Rally Dissipates Through Profit Taking
  • Tesla Stock Crosses $500 for First Time
  • Argentina asks for consent to delay payment of its debt
  • Wells Fargo's quarterly profits plummet by 55%.
  • Marijuana Stock Falls Despite Q2 Revenue Soaring 466%
  • Expectations for U.S.-China agreement boost Asian stock markets
  • BlackRock climate change: 'Climate risk is investment risk'
  • Gold Falls Awaiting Signing of China-U.S. Agreement, Palladium Reaches Record
  • JPMorgan exceeds market estimates due to brokerage gains
  • The reasons why the cannabis industry has stagnated
  • Oil barrel rises and short negative streak of several days
  • gender economics the effect of Wednesday's football
  • Markets: Almost all CFOs say the economy is going to slow down and the stock market is overvalued
  • Wall Street overvalued, CFOs believe
  • Von der Leyen asks the UK to decide what access it wants to the single market
  • Kids now don't save on piggy banks
    Other Recent Articles