08/31/2020 - 16:37
Clarín.com
Politics
President Alberto Fernández announced on Monday that adherence to the debt swap under foreign law was 99%.
"It is a very important day," said Fernández at the beginning of the event and added: "When we began this process of restructuring the debt in private hands, we convened everyone to tell them the idea, that ended yesterday, thanks to all the governors and governors who are here and at a distance. "
For his part, the Minister of Economy, Martin Guzmán, stressed that "in recent days the conditions of an offer that had a massive acceptance by our creditors have been worked out."
"Today we have that 99% of the public debt under foreign law has already been restructured and this is consistent with a total adherence of 93.55% that raises the restructured percentage to 99%," he said.
The opposition did not attend the event at the Bicentennial Museum, which was invited but decided not to attend, as confirmed by Cristian Ritondo and Mario Negri.
Until now in the market they considered an acceptance higher than 90%, a fact that is jealously guarded in the official corridors.
The President will announce the results
accompanied by the Minister of Economy, Martín Guzmán.
However, for the next five years, according to the Government's calculations, the total swap implies a debt relief of US $ 42.5 billion, not negligible given the challenges to be faced in an economy that had been affected by two years of recession and more than 10 years of high inflation, and that was impacted by the coronavirus.
In addition to the debt swap under foreign legislation, the one carried out according to Argentine law is also advancing: in that, according to Clarín, the acceptance until Friday was 83%.
Guzmán himself had told this newspaper that he expected a "massive participation" for this section.
The deadline to enter in the case of the local swap extends until September 1, in the early acceptance period (which implies that investors receive a higher value in the exchange), but continues until September 15.
News in development
AFG
