LatinNews Daily - 22 January 2020

* Argentina’s economy minister, Martín Guzmán, has announced that the government led by President Alberto Fernández has sent down to the federal congress a new bill outlining its proposal to restructure the country’s foreign public debt. According to Guzmán, the ‘foreign public debt sustainable restructuring bill’ sets the conditions and financial operations that the Fernández administration deems necessary to resolve the current “unsustainable” level of public debt of US$314bn. The bill declares the renegotiation of the country’s foreign debt as a priority and proposes to give the economy ministry the power to lead these negotiations with Argentina’s foreign creditors, including giving it the power to offer bond swaps and/or the issuing of new bonds to obtain a global agreement with foreign bondholders. Guzmán added that as part of this, he will also renegotiate Argentina’s US$44bn debt with the International Monetary Fund (IMF) and seek to “reprofile” the set schedule for the repayment of this debt. 

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