BUENOS AIRES — Argentina's sovereign bonds dipped almost 1% on Monday as a deadline for restructuring talks neared, with the South American country and its creditors at an impasse over proposals to revamp around $65 billion in foreign debt. The government is weighing a decision on whether to extend its negotiations, which have hit a roadblock ahead of an Aug. 4 deadline after creditors rejected the country's "final" offer and rallied behind a counterproposal. Reuters reported last week, citing a source close to the talks, that the national government was discussing a delay until mid-to-late August. [L2N2F01TT]Argentina's largest province, Buenos Aires, did extend the deadline on its own smaller $7 billion debt talks until Aug. 14 on Monday after a previous date of July 31 passed without a deal, a potential sign that the sovereign would follow suit.

Source: International New York Times August 03, 2020 16:18 UTC