Argentina will negotiate with holders of its sovereign bonds and the Internation...
BUENOS AIRES - Argentina will negotiate with holders of its sovereign bonds and the International Monetary Fund to extend the maturities of its debt obligations as a way of ensuring the country’s ability to pay, Treasury Minister Hernan Lacunza said on Wednesday.
“The priority today is to guarantee stability, because it is useless to launch reactivating measures if there is no stability. The first thing is to recover that stability,” Lacunza said at the news conference in Buenos Aires. He said the measures were taken “so that the president can deploy his policies without the restriction of imminent, or too high, debt maturities.”
He said changes in maturities of bonds issued under Argentine law would require approval from Congress. The IMF said in a statement that it was analyzing the government’s new debt plan. Argentina has taken “important steps” to address liquidity needs and safeguard reserves, said the statement from IMF spokesman Gerry Rice.
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