On 19 April, Argentina announced the largest sale of debt on record for an emerging economy, following the government’s success in securing the federal senate’s approval of its settlement with the country’s ‘holdout’ bondholders. Alfonso Prat-Gay, Argentina’s finance minister, said that the new issue of US$16.5bn worth of bonds at an average interest rate of 7.14% resolved the three issues at once “the 2001 default, the default of the previous government […] and our return to the markets”. Undoubtedly, the bond sale marks a significant moment for Argentina, which is returning to the international capital markets after a 15-year absence.End of preview - This article contains approximately 1235 words.
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