The government led by President Alberto Fernández has decided to extend, for a third time, the deadline for holders of US$66bn in sovereign bonds issued under international law to accept its debt restructuring offer. The government says that the new extension will allow it to present an amended offer to bondholders in the hope of convincing them to accept it and secure a deal. The failure to reach an agreement with bondholders has already resulted in Argentina once again falling into default [WR-20-21]. The aim for the Fernández administration now is to ensure that this default is short-lived so that it does not seriously harm the prospects for Argentina’s economic recovery. But to achieve this it will have to make more concessions. End of preview - This article contains approximately 822 words.
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