Argentina Tells Investors Debt Sustainability Plan Coming Soon
Argentina Tells Investors Debt Sustainability Plan Coming Soon
(Bloomberg) -- Argentine officials have told investors that they plan to present a debt sustainability program in February, according to three people with direct knowledge of the matter.
In meetings held in Buenos Aires this week, Economy Ministry officials told two investor groups that the plan will be made public soon and will be explained in detail to creditors, said the people, who aren’t authorized to speak about a private matter. The plan will include guidelines on the coupons the government believes it can pay, added one of the people.
Bondholders are searching for signs of how Argentina will engage with creditors, including the International Monetary Fund, to negotiate a new payment schedule for billions of dollars of debt the country says is currently “unpayable.” President Alberto Fernandez has pointed to a target date of March 31 to resolve the issue but few details have emerged thus far.
Officials present in the meetings included finance secretary Diego Bastourre, finance undersecretary Ramiro Tosi and head of the debt sustainability management unit Lisandro Cleri, the people said.
The press office of the Economy Ministry declined to comment.
The meetings were held in Buenos Aires while Economy Minister Martin Guzman was in New York to speak at an event held by the Council of the Americas and meet representatives from the IMF. Guzman is expected to meet IMF Managing Director Kristalina Georgieva on Feb. 5 on the sidelines of an event organized in the Vatican.
The February timing for the government to present its debt guidelines may coincide with an IMF mission to Buenos Aires, also expected for that month. IMF Western Hemisphere Director Alejandro Werner said Wednesday in a presentation that the Fund was maintaining its forecasts for Argentina on hold as it expects more economic policy details to be revealed in coming weeks.
To contact the reporter on this story: Jorgelina do Rosario in Buenos Aires at jdorosario@bloomberg.net
To contact the editors responsible for this story: Carolina Millan at cmillanronch@bloomberg.net, Daniel Cancel
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