February 12, 2020 |
Argentina's Economy Ministry said on Tuesday that it will delay payment on a local bond after two attempts to refinance the dollar-linked note failed, a sign of how the government may face an uphill battle to restructure more than $100 billion in debt over the next few months.
The ministry said the interest on the AF20 bond will be paid on time, but the principal payment will be postponed until September 30, according to a statement. The delay, the ministry added, will give it "more time to rest
Government appears to take a harder stance with bondholders as it prepares to start restructuring its external debt