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Economy & Business - August 2020

ARGENTINA: Bond deal done, more restructuring required

After nearly four months of haggling, a selective default, and a series of delayed deadlines, the Argentine government has finally settled the terms of a deal to restructure US$66.24bn worth of sovereign bond debt. It is an undoubted success for President Alberto Fernández and his economy minister, Martín Guzmán. But it is also the beginning of a difficult set of further negotiations with other creditors, including the International Monetary Fund (IMF).

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