Argentina Default Could Be Cured Quickly, Investors Say

Even if Argentina defaults for the ninth time in its history, creditors say the issue could be cured quickly as the two sides work to restructure $65 billion in overseas bonds, Bloomberg News reported. Although an event of default will be hard to avoid for Argentina, there is willingness to resolve the negotiations, said Greylock Capital Management LLC’s Chief Executive Officer Hans Humes at an online event. The country is just a day away from a May 22 deadline, when $500 million in overdue payments come due. Humes, whose fund is part of one of three key creditor groups, the Argentina Creditor Committee, said that a resolution was in all parties’ best interest, and that greater flexibility was needed by both sides to reach an agreement. “Any kind of default event can be cured in short order,” Humes said. “I would hate to have something as disorderly as a hard default.” Read more

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