Argentina’s New Debt Offer Shortens Payment Delay to Two Years

Argentina published a new debt offer that shortens its payment moratorium to two years and delays principal payments for half a decade. Under the revised proposal, the South American nation wouldn’t pay coupons until 2022, Bloomberg News reported. Its initial offer called for a three-year delay. Principal repayments would begin in May 2025, according to a statement from the Economy Ministry. President Alberto Fernandez’s administration entered talks with its largest creditors on Saturday after formally defaulting for the ninth time in the nation’s history. The government then extended its deadline for a debt deal until June 2, giving the two sides several more days to reach an accord. Read more