LatinNews Daily - 20 July 2020

* Argentina’s economy ministry has submitted a bill to congress that proposes to restructure US dollar-denominated bonds issued under local law. In a statement, the economy ministry outlined a proposed swap of 29 such bonds for eight new instruments in dollars or pesos, which would enable a more sustainable public debt repayment schedule. The initiative runs alongside the government’s ongoing high stakes renegotiation of some US$66bn of foreign-law sovereign debt, which last week saw the government table its latest and “final” offer, with a 4 August deadline for bondholders to respond. The government had previously promised that holders of local-law and foreign-law bonds would receive “equitable” conditions.

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