Argentina President-Elect Fernandez Says He Won’t Rush Debt Deal

Argentine President-elect Alberto Fernandez says he won’t rush the debt agreement process to ensure he gets a good deal for the country, Bloomberg News reported. “We don’t want to sign anything and then regret it,” he said in an interview for Pagina 12 released on Sunday. “We don’t want to run after the timelines for the bondholders, we want to run after the timeline that’s best for Argentines.” He said he listens to Guillermo Nielsen, the debt negotiator for Argentina in 2005, on debt, but that he’s looking to make the final decisions himself. Nielsen will be “very close” to Fernandez, but he declined to elaborate on the role he will have. Investors fear that Fernandez, who was elected on a wave of popular discontent with fiscal austerity and takes office Dec. 10, doesn’t have a clear strategy to save the country from financial ruin, and his leadership could lead to a debt default. Read more

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