August 30, 2019 |
Argentina's request that bondholders accept late payments on $101bn of debt appears to be a risky move that could mark the beginning of another default, LatinFinance has heard.
"You could argue that this is the beginning of a default, just less of a messy one," said Edward Glossop, an economist at Capital Economics. "They are not going to pay their original debts in the time frame they suggested. In the ratings agencies' view, this is already a default."
Treasury Minister Hernán Lacunza announce
Analysts view the government's request for more time to pay $101bn in debt as a step closer to default