Argentina has asked creditors for a 3-year suspension of debt payments, 5% haircut on principal and 62% reduction in interest payments, @TheEssentialcom reports, rejecting steep budgets cuts that would permit a more generous offer. https://gettheessential.com/economy/2020/04/16/argentina-shows-debt-proposal-but-deal-is-still-too-far …
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The proposal is "only slightly more generous" than Argentina's take-it-or-leave-it offer following its 2001 default, which led to epic litigation with bondholders,
@business reports.https://www.bloomberg.com/news/articles/2020-04-16/argentina-asking-for-62-haircut-on-interest-payments …1 reply 0 retweets 2 likesShow this thread
"Today we cannot pay the debt. We have the will to do it, but we do not have the capacity," Finance Minister Martín Guzmán said, @Reuters reports.https://reut.rs/2VfeiRd
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