Argentina's Day of Reckoning Arrives as Creditors Decide On $65 Billion Debt Deal

After four months of tense debt talks, multiple pushed deadlines and amendments since an initial low-ball offer in April, bondholders will decide on Friday whether to accept the country’s $65 billion restructuring proposal, Reuters reported. The main three creditor committees holding a large chunk of the bonds backed a deal earlier this month, bolstering confidence that the government will get the required level of support to allow a full deal to go ahead without holdouts. A deal is key to pulling Argentina out of default and reviving the country already in its third straight year of recession as Economy Minister Martin Guzman turns his attention to the next step: renegotiating a failed $57 billion deal with the International Monetary Fund. Read more