Argentina's bloodied bond market could take another beating if debt renegot...
BUENOS AIRES - Argentina’s bloodied bond market could take another beating if debt renegotiations take longer than expected, analysts said on Friday, as investors digested a week full of bearish news and the economy minister’s tough comments about creditors.
Asset prices were driven down on Monday by a sovereign debt auction that had to be canceled due to poor investor appetite. On Tuesday the government unilaterally postponed a $1.47 billion payment on its AF20 bond from Thursday until Sept. 30.“Considering what Guzman has said, we will experience a longer than previously expected debt renegotiation.
“Key asset price drivers in the very near future will be the specifics of the government debt restructuring proposal and signals from the IMF.” A mission of IMF economists is in Buenos Aires meeting with government officials until Feb. 19, when it is expected to issue a statement about Argentina’s plan for restructuring about $100 billion in loans and bonds. The negotiations are delicate.
Norge Siste Nytt, Norge Overskrifter
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