Tag: Martin Guzman

ARGENTINA: Buying time on foreign law debt as economic storm clouds darken

The government last night, 6 April, confirmed that it would postpone payments on around USD 8.4bn in USD-denominated debt issued under local law. The move is designed to gain space to keep on making foreign currency payments issued under non-Argentine law and avoid a wider default and a subsequent return to complex international litigation; it is very difficult to litigate against the state in the domestic legal system.… Read the rest

ARGENTINA: Guzman debt play points to tough talks ahead

Finance Minister Martin Guzman’s appearance in Congress yesterday, 12 February, was never going to amount to a full and frank exposition of the government’s policy and debt restructuring plans. What it did involve was some indications of the government’s opening debt play, including some very modest fiscal consolidation plans, and a dose of political grandstanding.… Read the rest