Argentina proposes US$69 billion debt restructuring
A view of the Buenos Aires Stock Exchange. Argentina owes US$311 billion – more than 90% of its GDP – with more than US$30 billion in repayments due before month-end. – AFP pic, March 10, 2020.
ARGENTINA has finalised a proposal to restructure some US$69 billion of its massive public debt, said the government today, hoping to delay the maturity of some institutional loans and reduce the amount owed to private creditors. Since taking office last December, President Alberto Fernandez’s administration has insisted that it will not be able to pay off its creditors if the recession-hit economy fails to resume growth.
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