Argentina Debt Proposals Far Apart With Deadline Looming

Argentina and creditors seeking to hash out a $65 billion bond restructuring are still far apart, just days away from a deadline that could plunge the country into default, Bloomberg News reported. Talks have continued since bondholders sent two counterproposals Friday, but there’s a gap of about 20 cents on the dollar between the government’s offer and the most aggressive creditors, according to people with direct knowledge of the matter. Argentine officials have asked advisers to work on a new proposal that incorporates investors’ feedback but maintains a three-year moratorium on debt payments, some of the people said. In an online forum Tuesday, Economy Minister Martin Guzman said he expected negotiations to extend past May 22, when the grace period expires on $500 million of overdue interest payments. Read more