Argentine provinces' fate tied to sovereign debt restructuring

Argentine provinces' fate tied to sovereign debt restructuring

Corporate & Sovereign Strategy Economy & Policy Fixed Income Bonds Debt Capital Markets Argentina Latin America

Argentina's provinces will likely have to wait until the sovereign concludes a proposed restructuring of its billions of dollars of debt before they can do the same to avert defaults, Chaco Gov. Jorge Capitanich said on Friday. The provinces have to wait to see what the federal government’s strategy is for restructuring the sovereign’s debt, he said, saying this will “open the door” for the sub-sovereigns to follow suit. “With the model that Argentina takes and the impact that this has, province

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