LatinNews Daily - 18 August 2020

*The Argentine government led by President Alberto Fernández has announced the submission of its amended offer to restructure over US$66bn of bonds issued under international law to the US Securities and Exchange Committee (SEC), after which the top bondholder groups subsequently reindorsed the proposal. In separate statements, the economy ministry published details of the amended offer agreed in principle with the three largest creditor groups on 4 August, and the two more influential of these, the Ad Hoc Group and Argentina Exchange, reaffirmed their support. According to the government, creditors now have until 28 August to formally approve the deal. The results will then be announced after 31 August and the settlement will be concluded on 4 September. The statements all but conclude a process that came under increasing strain in the months following Argentina’s first offer on 21 April. The economy ministry added that Argentina has achieved its promise to “restore sustainability” to its public debt.

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