LONDON/BUENOS AIRES (Reuters) – Argentina’s debt talks have gone cold with the country at loggerheads with its creditors over the legal terms of a $65 billion bond restructuring after coming tantalisingly close to a financial agreement. FILE PHOTO: Demonstrators hold a banner that reads “no to foreign debt payment, IMF out” as they march towards Casa Rosada Presidential Palace during a protest against the visit of an IMF technical team to Buenos Aires, in Buenos Aires, Argentina February 12, 2020. The National Congress building, where Economic Minister Martin Guzman is having a presentation to explain the way Argentina is going to repay the debt, is seen at rear. REUTERS/Agustin Marcarian/File Photo Argentina’s government extended a deadline for talks earlier this month to July 24, the biggest delay yet, to allow time to defuse tensions. With the two sides only a whisker apart in terms of valuation of their proposals, the wrangling has shifted to the collective action clauses (CACs) which determine the requirements for any future changes made to the bond agreements. “The next phase may focus more on legal as opposed to financial terms,” said Siobhan Morden, head of Latin America fixed income strategy at Amherst Pierpont Securities. As… Read full this story
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