BUENOS AIRES (Reuters) – Argentina will negotiate with holders of its sovereign bonds and the International Monetary Fund to extend the maturities of its debt obligations as a way of ensuring the country’s ability to pay, Treasury Minister Hernan Lacunza said on Wednesday.
At a news conference after meetings with an IMF team visiting Argentina, Lacunza said the government would “re-profile” the maturities of debt owed to the IMF under a $57 billion standby agreement.
Interest and principal payments on bonds issued under international and local law will not be altered in the re-profiling. The changes in maturities would be aimed at obligations held by institutional, rather than individual investors, he said.
“The priority today is to guarantee stability, because it is useless to launch reactivating measures if there is no stability. The first thing is to recover that stability,” Lacunza said at the news conference in Buenos Aires.
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