Argentina: Private Creditors Reject Initial Debt Restructuring Proposal

The offer is better than expected, but still far below expectations. Default is imminent, as the coronavirus pandemic is increasingly exacerbating the crisis.

RIO DE JANEIRO, BRAZIL - The Committee of Private Creditors of Argentina's Public Debt (ACC) has rejected the proposal made last Thursday by the government of President Alberto Fernández to restructure the country's debt.

The ACC criticized the proposal as "far below expectations" and said the Argentine government had not approached creditors before submitting the proposal.

However, the ACC is "hopeful" that Subscribe to our Premium Membership Plan. Already Subscribed?