Argentina's $65 Billion Debt Deal Draws Near On Eve of Deadline

Argentina and its creditors are nearing a breakthrough $65 billion debt restructuring deal, a lawmaker and two sources told Reuters on Monday, the eve of a deadline for a deal that would help avert a damaging legal standoff, Reuters reported. The South American country has been at an impasse with creditors including BlackRock and Ashmore, over proposals to revamp the debt ahead of the Aug. 4 deadline. Last month, the main creditor groups had rejected the country’s “final” offer and rallied behind a counterproposal. Ruling party deputy Fernanda Vallejos told Reuters in a message that a deal was “near to closing” after Economy Minister Martin Guzman met with lawmakers. “He gave us reason to feel optimistic that there are significant chances of success in closing the negotiation,” she added. Read more