07/07/2020 - 10:32
- Clarín.com
- Economy
These are decisive hours for Argentina in negotiating with foreign debt holders. After the officialization this Tuesday before the United States Securities Commission (SEC) of the new offer to creditors, the Minister of Economy, Martín Guzmán, admitted that the objective is to reach an agreement with the BlackRock group , the most reluctant to accept the renegotiation conditions offered by Argentina.
In statements to Radio Con Vos , Guzmán described the negotiation process with the bondholders as "complex", although he stated that "this new offer is closed."
"Argentina shows a great willingness to agree, we made a great effort. Basically, now the decision is on the side of the creditors, " he assured.
Guzmán stressed that they have already obtained the guarantee "with a number of creditors" with whom "there was a constructive dialogue", but warned that there is a very important group of investors with whom they did not and at one point they stopped negotiating, planting themselves in a situation that Argentina could not sustain. "
"We hope that in the next few days there will be a statement against it and then they will take some time to decide. We made the maximum effort within what we can fulfill. If we could not fulfill it would not make sense. With that sector there was dialogue but we did not start Our intention is to reach an agreement with BlackRock, we don't want to confront, "he said.
When talking about the possibilities of default, Guzmán was exhaustive: "Argentina is already in default, it has virtual default conditions since April 2018. That was concealed by borrowing from the IMF, but Argentina was already in default conditions. Now we are looking get out of the default in a way that works. "
In the framework of the negotiations, the minister could not avoid talking about how the pandemic affects the country. "Before the coronavirus we had another plan. Today, the urgent thing is to deal with today's situation. The first thing we saw is that the countries that did not react quickly to avoid the transmission of the virus experienced a health crisis and also an extremely adverse economic situation. . the first is health and that is a responsible decision. "
Guzmán considered that "it is a situation of double crisis, macroeconomic and that of the coronavirus", for which he stressed that "a very reasonable offer was made".
JPE