BUENOS AIRES — Argentina is set to unveil a new debt restructuring offer that will be kept open until the end of August, President Alberto Fernandez told local radio on Sunday, as the government seeks to strike a deal despite rising tensions with creditors. "The proposal we are making is a huge effort, but it is the maximum effort we can make," Fernandez added. "I hope that the creditors can understand that." Argentina is racing to revamp $65 billion in foreign bonds after tumbling into its ninth sovereign default in May. A deal is key to avoiding a messy and protracted legal standoff that would lock the country out of international credit markets.

Source: International New York Times July 05, 2020 18:22 UTC