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Argentina Debt Proposals Far Apart With Deadline Looming

  • Government, creditor offers differ by about 20 cents/dollar
  • The government has asked advisers to work on a new proposal
Pedestrians wearing protective masks walk in the Barrio Norte neighborhood of Buenos Aires, Argentina, on May 14. 

Pedestrians wearing protective masks walk in the Barrio Norte neighborhood of Buenos Aires, Argentina, on May 14. 

Photographer: Sarah Pabst/Bloomberg
Updated on

Argentina and creditors seeking to hash out a $65 billion bond restructuring are still far apart, just days away from a deadline that could plunge the country into default.

Talks have continued since bondholders sent two counterproposals Friday, but there’s a gap of about 20 cents on the dollar between the government’s offer and the most aggressive creditors, according to people with direct knowledge of the matter. Argentine officials have asked advisers to work on a new proposal that incorporates investors’ feedback but maintains a three-year moratorium on debt payments, some of the people said.