Argentina's Guzman Says Debt Offer “Maximum" Effort, Hints at Deadline Delay

Argentina economy minister Martin Guzman emphasized on Thursday that the country’s proposal to creditors to restructure around $65 billion in foreign debt was the maximum effort it could make, and hinted the deadline for a deal could be extended, Reuters reported The South American nation is racing to clinch a deal to avoid a messy and protracted legal standoff with creditors after it slipped into default for the ninth time in May. The deadline for a deal set by the government is currently Aug. 4. Negotiations, however, are at something on impasse after creditors grouped behind a counter proposal and rejected the “final” government offer made in early July. Asked about extending the deadline, Guzman said that the government was “assessing all the options” and would make a decision soon, although he added that it had previously been the plan to set a later deadline. Read more