Argentine lower house debates sovereign debt sustainability bill

Argentina Chamber of Deputies might approve today the so-called Debt Sustainability Bill that will grant powers to the Minister of Economy, Martín Guzmán, to negotiate the sovereign debt. Among those faculties is the determination of the final amount to renegotiate of a universe of $ 140 billion in the securities issued by Argentina under foreign law, which represent 44.9% of the total Argentine public debt.

Government sends bill to Congress to negotiate sovereign debt restructuring

President Alberto Fernández sent to Congress the draft of the so-called Law of Restoration of the Sovereign Debt Sustainability. The bill gives power to the Government for managing liabilities, swaps or restructuring of bonds maturities under foreign law. “Today we have an unsustainable debt burden. This bill will give us the conditions to structure and execute the operations needed with the aim of restoring public debt sustainability", said Economy Minister Martín Guzmán during a press conference.