About: http://data.cimple.eu/news-article/86f4e4579cfe709992e4b09072ee5aab7ad2b894d3d1dfb0862176d3

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About: http://data.cimple.eu/news-article/86f4e4579cfe709992e4b09072ee5aab7ad2b894d3d1dfb0862176d3 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Three creditor groups on Monday rejected the debt restructuring offer made by Argentina's government for $66 billion in bonds, saying the proposed haircut on their investment is too steep. Argentina's Economy Minister Martin Guzman on Sunday called for creditors to cooperate with the government's efforts but the groups, which a spokesman said each represent about 100 bondholders, said "require Argentine bondholders to bear disproportionate losses that are neither justified nor necessary." "Each of the three bondholder groups and the institutions they represent, together with various other investors, wish to reiterate and make clear that they cannot support Argentina's recently launched exchange offer, and will not tender their bonds in such offer," the statement said. Guzman said Sunday in an interview with the Clarin newspaper that Argentina "has the willingness to pay, but does not have the capacity to pay," and responded to criticism of the terms of the debt swap, which is due to close Friday, saying creditors will not lose but will "gain less." The offer to restructure the crisis-hit nation's foreign debt includes a three-year grace period, a 62 percent haircut on interest amounting to $37.9 billion, and 5.4 percent on principal or $3.6 billion. Guzman said the lenders took the risk in extending credit to Buenos Aires and the restructuring plan is in line with the country's ability to pay. If no deal is reached by Friday, "Argentina will continue working as long as it takes to restore debt sustainability." The Ad Hoc Bondholder Group, the Argentina Creditor Committee and the Ad Hoc Group of Argentina Exchange Bondholders said in the statement they are "prepared to constructively engage with Argentina when its government is ready to do so, with the common objective of finding a viable solution to the Republic's current financial challenges." hs/cs
schema:headline	Argentina creditors say debt offer imposes excessive losses
schema:mentions	Reiterate Creditor Clarín (Argentine newspaper) External debt Glenn L. Martin Company Buenos Aires Argentina Debt restructuring Market trend
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-04 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	90 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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