Hasnain Malik Strategy and Head of Equity Research
Stuart Culverhouse Head of Sovereign & Fixed Income Research
August 29 2019
Argentina's debt reprofiling: High implementation risks
Following three weeks of intense market pressure, Argentina announced its intention to extend the maturities of certain of its government debt (ie, maintain existing interest payments, no haircut to repayment of principal) – US$7bn of short-term debt, US$50bn long-term debt and US$44bn IMF debt. The surprising aspect of this announcement is the inclusion of the foreign debt, given the relatively low level of maturing foreign debt in the next 12 months.
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