LatinNews Daily - 27 August 2021

In brief: Argentina’s Buenos Aires province moves in on debt deal

* The Buenos Aires province government has announced that it has received over 90% acceptance from holders of its international bonds to conclude a US$7.15bn debt restructuring deal, bringing it a step closer to emerging from a 16-month default. Last month the provincial government announced it had struck a deal with bondholders to restructure the debt. Negotiations between the provincial government and its creditors had been long and often acrimonious and were complicated by the political uncertainty and economic damage caused by the coronavirus (Covid-19) pandemic. Earlier this year creditors even filed a suit against what they denounced as “continued default” by the provincial government as it kept extending the deadline for negotiations on a debt offer it first made back in April 2020.

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