Macroeconomy/Finance

Economy minister warns of ‘deep debt restructuring’

Argentina’s economy minister, Martín Guzmán, warned bondholders to brace for significant losses as the country restructures its debt “focused on sustainability” amid an economic crisis. His comments at a congressional hearing on Wednesday set the tone for tense negotiations with sovereign debt bondholders, among them major investment funds such as BlackRock and Fidelity. He also said the government won’t reduce its fiscal deficit in 2020.

Source: Bloomberg