"Meters from a precipice": Buenos Aires province on edge as debt deadline looms [Reuters]
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Source: Reuters
"Meters from a precipice": Buenos Aires province on edge as debt deadline looms BUENOS AIRES, Jan 31 (Reuters) - Argentina’s Buenos Aires province and its creditors are at a cliff edge in bond restructuring negotiations that could set the tone for the country’s larger $100 billion debt talks. Holders of a 2021 bond have until 1 pm (1600 GMT) on Friday to agree to a proposal delaying a $250 million principal repayment until May 1. If they do not agree it would leave the province days away from falling into technical default. The negotiation is a litmus test for talks to restructure the South American nation’s sovereign debt, including with the International Montetary Fund, which center-left President Alberto Fernandez wants to wrap up by the end of March. “Argentina’s President and the governor of Buenos Aires are both playing their cards just a few meters from the precipice,” consultancy Massot Monteverde & Asociados said in a report, adding that with “one false move” talks could quic
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