News of negotiation

With a track record of disasters, Argentina and IMF think small

12-09-2020 10:36 It’s only two years since the IMF broke its own credit records by offering Argentina US$57 billion. Now, talks over a new financing programme are beginning anew.

CRISIS AHEAD?

Debt deal sealed, but Argentina’s economic woes remain

08-08-2020 09:36 Experts say deal with bondholders ‘takes pressure off’ the government, but warn renegotiating terms of US$44-billion loan with IMF is now the urgent concern.

DEBT, DEFAULT. DEAL

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

DEBT RESTRUCTURING

Argentina's joust with bondholders likely to drag on beyond Friday

07-05-2020 12:43 Battle of attrition between Argentina and international creditors over restructuring US$65 billion in debt is likely to continue unabated past a Friday deadline, analysts say.

ECONOMIC INDICATORS

Argentina's tax revenue fell in April as lockdown kicked in

06-05-2020 11:21 Tax revenue fell sharply in April as the nationwide lockdown and shutdown in economic activity kicked in.

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.

LATIN AMERICA MERCOSUR BLOC

Government says it’s not abandoning Mercosur, despite position on talks

02-05-2020 10:09 Foreign Minister Felipe Solá says Argentina is not “giving up its seat at the table.”

Bloomberg

Economist Jeffrey Sachs praises Argentina's debt offer, says offer is ‘realistic’

29-04-2020 13:19 Argentina's offer to foreign creditors is "intelligent, balanced and realistic," according to economist and Columbia University professor Jeffrey Sachs.

Mercosur trade talks

Mercosur talks complicated by Argentina's decision, says Paraguay

27-04-2020 12:59 With surprise on the part of the authorities and criticism from the industrial sector about the effectiveness of the economic integration project, the announcement by Argentina to abandon the negotiations being carried out by Mercosur was received in Paraguay.

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

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

Bloomberg

Unofficial exchange rate slumps as printing presses warm up

14-04-2020 15:51 Argentina's unofficial exchange rate dropped on Monday after President Alberto Fernandez indicated the country may be preparing to turn on the printing presses to revive the economy.

Bloomberg - Long read

Trump’s oil deal: the inside story of how a price war ended

13-04-2020 16:13 After a week-long marathon of calls between world leaders and video conferences featuring dozens of energy ministers, this is how the 2020 oil price war was finally ended.

Bloomberg

Argentina in dispute with creditors over debt grace period

02-04-2020 19:44 Argentine authorities are at odds with international bondholders over a proposal for a four-year moratorium on payments to creditors.

bloomberg

Ecuador lawmakers call for debt moratorium amid virus fight

23-03-2020 18:31 Ecuador’s Congress called on the government to suspend debt payments to free up cash to deal with the coronavirus pandemic, sending the nation’s bonds deeper into distressed territory.

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.

Bloomberg

Argentina’s largest peso swap in a decade may lead to new snub

18-03-2020 18:08 Analysts warn that Argentina's largest peso-denominated debt swap since 2005 may not attract sufficient investor support.

Debt talks & Covid-19

Pandemic poses perfect storm scenario for Argentine debt

16-03-2020 08:05 The global downturn, and the crisis caused by the coronavirus, could yet strangely benefit Argentina, according to some economists.

BBC WORLD QUESTIONS

Panel of experts debate Argentina’s future on BBC World Service

13-03-2020 19:18 BBC World Service’s ‘World Questions’ event affected by coronavirus outbreak – so experts hold debate without an audience, prompting series of fiery exchanges.

by James Grainger

Bloomberg

Once deemed safe, Argentina’s oil bonds imperiled by price crash

12-03-2020 14:07 Oil-backed bonds in Argentina's Chubut province, once considered among the nation's safest assets, are being affected by the collapse of oil prices, impending sovereign debt talks and the province's own call for restructuring.

Bloomberg

Argentina faces catch-22 on peso debt bomb after swap tradeoff

06-03-2020 15:37 The local debt of 1.8 trillion pesos (US $29 billion) is an amount roughly equivalent to all the cash in circulation in the country.

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 talks

Argentina contracts Bank of America, HSBC & Lazard for debt talks

02-03-2020 17:17 Argentina hired Bank of America, HSBC to become its placement agents of the debt restructuring and engaged Lazard in order to be its financial advisor, according to a statement from Economy Minister published on Sunday.

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

Bloomberg

Alberto Fernández says debt deal must be 'sustainable'

02-03-2020 13:12 President emphasises in speech to Congress that “the most important thing is that the deal we reach with creditors is sustainable.”

Bloomberg

Agri-food giant Molino Cañuelas considers US$1.4-billion bankruptcy

01-03-2020 21:30 one of Argentina's largest food and grain mill producers is nearing bankruptcy, after 18 months of fruitless negotiations with creditors to restructure a US$1.4-billion debt.

DEBT RESTRUCTURING

Guzmán’s long March

29-02-2020 08:56 Argentina’s president is trying to sort out the country’s debt problems politically. Still, in the end, it will all be about money – the success of the ‘gently does it’ approach hinges on the bondholders accepting a considerable haircut.

by Martín Gambarotta

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.

Debt Crisis

IMF says debt talks with Argentina are 'conversations, not negotiations'

27-02-2020 16:11 IMF spokesperson Gerry Rice tempers excitement over debt restructuring, noting that Argentina and the IMF have yet to formally open negotiations over how to restructure US$44 billion credit-line.

BREXITSHAMBLES

UK rejects EU trade demands, threatens to walk away

27-02-2020 15:14 UK Prime Minister Boris Johnson's government rebuffed EU demands for common trading standards and fishing right, setting out its red lines for trade talks with the European Union.

DEBT NEGOTIATION

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.

DEBT NEGOTIATIONS

20%? 35%? Analysts ponder what's an acceptable haircut for bondholders

27-02-2020 07:00 The IMF's support for the government last week won't convince bondholders to accept a larger haircut of Argentina's debt than initially foreseen, according to analysts.

by Mirta Fernandez

DEBT TALKS

Famed economist concerned Argentina is on road to 'total default'

20-02-2020 09:00 Economists, including respected Turkish academic Nouriel Roubini, warn that Argentina's lack of credibility and a coherent economic plan may mean negotiations with IMF end up fruitless.

PROVINCE'S DEBT TALKS

Chubut to hire JPMorgan, Citigroup for debt restructuring talks

12-02-2020 13:37 The Argentine province, Chubut, plans to recruit JPMorgan & Chase along with Citigroup as financial advisors for a possible debt transaction, backed up by Governor Mariano Arcioni and the Minister of Economy.

Alberto in Europe

France will back Argentina to renegotiate debt with the IMF

05-02-2020 13:14 Alberto Fernández continues his european tour with French President Emmanuel Macron’s company at Elysée Palace in order to obtain significant political support to negotiate a rescheduling of the maturities of Argentina's large foreign debt.

NEW ERA IN ARGENTINA

Eight weeks that will settle the next four years

01-02-2020 08:50 Argentina’s leadership finds common ground when it seems to be too late, arguably without noticing that crisis arrives after an earlier lack of accord, guided by automatic bickering.

by Marcelo J. Garcia

PERONIST COALITION

Máximo Kirchner emerges from shadows to play key role for government

22-01-2020 09:00 42-year-old national lawmaker is increasingly comfortable with Peronism's return to power and is emerging out of the shadows, positioning himself as a "builder" of consensus.

by Rosario Ayerdi