RIO DE JANEIRO, BRAZIL - The governor of the central Argentine province of Cordoba, Juan Schiaretti, said on Monday an agreement had been reached with creditors to restructure around US$1.7 billion in debt as the country battles an enduring recession worsened by COVID-19.
The country’s second most important province after Buenos Aires in terms of contribution to GDP has been locked in lengthy negotiations with bondholders including the Ad Hoc group which holds more than 50% of foreign-held debt but had rejected several previous proposals.
On Monday night, January 12th, Schiaretti announced a breakthrough with investors . . .