Argentina open to new bonus debt proposals

The Argentine government said it is open to new proposals from its bondholders to restructure a $65 billion debt, indicating a greater willingness to negotiate to avoid another chaotic default. Large groups of creditors have already rejected Argentina’s first proposal, which includes accepting a 5.4% reduction in capital, a 62% cut in interest payments, and a three-year grace period. If no agreement is reached before May 22, when a grace period for bond payment ends, and Argentina decides not to pay, the country will default.

Source: Cityfalcon