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Brazil & Southern Cone - December 2014 (ISSN 1741-4431)
ECONOMY: Kicillof puts his cards on the table
On 4 December Argentina’s tough-talking economy minister, Axel Kicillof, offered holders of dollar-denominated Boden15 bonds, which maturing in October next year, early payment or a swap for longer-term bonds, the Bonar24s. The main aim of the initiative appears to be to spread out heavy debt repayments due next year and give Argentina greater room to manoeuvre in its ongoing dispute with New York-based holdout creditors. “The aim is to curb speculation, to allow Argentina to follow its debt restructuring path, and provide investors holding Argentine bonds complete certainty”, Kicillof stated.
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