LatinNews Regional Monitor: Brazil & Southern Cone - 07 May 2020

* Argentina’s President Alberto Fernández has insisted that 8 May is the deadline for foreign holders of Argentine sovereign bonds to accept the formal debt restructuring offer made by his government, and that the government will not contemplate making any extensions. The offer tabled by the Fernández administration three weeks ago has already been rejected by various bondholder groups, suggesting that the possibility of reaching an agreement that would allow Argentina to avoid defaulting on its debts before the deadline is low. Given this scenario, the expectation was that the Fernández administration would present an improved offer, and give bondholders more time to consider it. But President Fernández said that “the deadline is the 8th, and we hope that the world understands that”, urging bondholders to accept the offer.  

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