About: http://data.cimple.eu/news-article/a8d601b403a6b22e3c10287c28bc642ea87f1cc3468e571a3ba67c56

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About: http://data.cimple.eu/news-article/a8d601b403a6b22e3c10287c28bc642ea87f1cc3468e571a3ba67c56 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Argentina has finalised a proposal to restructure some $69 billion of the country's massive public debt, the government said Tuesday, hoping to delay the maturity of some institutional loans and reduce the amount owed to private creditors. Since taking office in December, President Alberto Fernandez's administration has insisted it will not be able to pay off its creditors if its recession-hit economy fails to resume growth. The country is struggling with inflation of more than 50 percent, a major currency depreciation and a poverty level that has soared almost to almost half the population after nearly two years of economic downturn. In 2001 Argentina defaulted on payments on nearly US$100 billion of its external debt, but has since paid some back in the form of large swaps. Now the government wants to delay the maturity on some loans and work with private creditors to reduce overall debt. Last week the government said it had recruited HSBC, Lazard and Bank of America to help with the restructuring. Argentina currently owes $311 billion -- more than 90 percent of the country's GDP -- with more than $30 billion in repayments due before the end of March. That includes a deeply unpopular $57 billion bailout loan from the International Monetary Fund negotiated by Fernandez's center-right predecessor Mauricio Macri in 2018. Last month the IMF said Argentina's debt was "not sustainable" and urged the government to generate funds from private investors. burs-gle/fox
schema:headline	Argentina proposes $69 billion debt restructure plan
schema:mentions	HSBC Fox Bailout External debt Alberto Fernández International Monetary Fund Inflation Mauricio Macri Poverty Gross domestic product Argentina Lazard Currency appreciation and depreciation
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-10 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	87 (xsd:integer)

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