Economics
Argentina Seeks to Extend Maturity of $101 Billion of Debt
- Economy Minister Lacunza called the measure a ‘reprofiling’
- Lacunza blamed the measure on liquidity, not solvency issues
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Argentina’s government is seeking to extend maturities on tens of billions of dollars of debt and delay repayments to the International Monetary Fund after a collapse in the peso and its bonds.
The government will postpone $7 billion of payments on short-term local notes held by institutional investors this year and will seek the “voluntary reprofiling‘’ of $50 billion of longer-term debt, Economy Minister Hernan Lacunza said. It will also start talks over the repayment of $44 billion it has received from the IMF.