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Weekly Report - 23 July 2020 (WR-20-29)

ARGENTINA: Gap narrows in debt talks

“To make a better offer would be to put tomorrow at risk.” This was how Argentina’s President Alberto Fernández responded to a joint counteroffer made by three groups of bondholders this week to the “final” debt restructuring offer presented by his government. But while publicly refusing to budge the Fernández administration will be privately satisfied that its efforts to persuade its creditors to table a serious counteroffer have borne fruit at last. This suggests a deal could now be within sight if not ahead of the expiry of the government’s latest extended deadline of 4 August.

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