Argentina, global creditors try to restructure $65 billion debt – Gulf Today

Argentina, global creditors try to restructure $65 billion debt – Gulf Today

Argentina will keep pushing for talks with global creditors even as a deadline for its $65 billion debt restructuring proposal passed on Friday with little sign it had the support needed from international bondholders to unlock a comprehensive deal.. Argentine economists on Friday predicted a worsening recession and raised their inflation estimate to 44.4% from 40%, according to the median forecast in a monthly central bank poll.. Economy Minister Martin Guzman told Reuters on Friday that Argentina "remains open to dialogue" and that it would reassess its position after the deadline, which expired in Buenos Aires.. The government says its ability to pay creditors is extremely limited as Argentina was already in recession before going into lockdown due to the coronavirus pandemic on March 20.. "There's still time for these negotiations that are ongoing," IMF Managing Director Kristalina Georgieva said on Friday, adding it appeared Argentina recognized "it is important to find a pathway to resolve their debt crisis..