BUENOS AIRES (Pakistan Point News / Sputnik - 01st September, 2020) Argentina has received broad support from bondholders and 99 percent of its massive debt has been restructured, Economy Minister Martin Guzman has announced.
"Today, 99% of state debt in international bonds has been restructured," Guzman said on Monday, adding that, through dialogue, an agreement has been reached with most creditors.
According to the economy minister, Argentina received tenders for 93.5 percent of the debt eligible for restructuring.
In August, the Argentine Economy Ministry announced that it had reached an agreement with key creditors on restructuring its $65 billion debt, which would help prevent a default.
According to Guzman, the current support from bondholders will generate $38 billion of debt relief over the next decade.
