LatinNews Daily - 26 May 2020

*The Argentine government has failed to pay the over US$500m in overdue interest on three sovereign bonds before the 22 May deadline, meaning it has technically defaulted on its sovereign debt for the third time this century. Following yesterday’s public holiday in the US, the International Swaps and Derivatives Association (ISDA), made up of over 900 banks, investment funds and other financial entities across the world, will meet today (26 May) to determine if creditors are entitled to activate credit default swaps (CDS) against Argentina. However, as yet no creditor has requested to activate a CDS. Meanwhile the local media has reported that Economy Minister Martín Guzmán has presented an improved debt restructuring offer to foreign bondholders to try to resolve the debt crisis This after the deadline set by the Argentine government to reach a deal with bondholders was extended to 2 June.

End of preview - This article contains approximately 145 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial