Developing nations are reducing their debt by pledging to protect their resources in financial deals that could give them a bigger role in the fight against climate change.
(Bloomberg) Sri Lanka is hurtling toward a default of its international debt and needs to restructure. Its government may be surprised to find that a group…
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BUENOS AIRES (Reuters) - Argentina has defused fears of a messy default after it gained backing from creditors, allowing it to exchange 99% of the bonds involved in a $65 billion restructuring, a deal that could set a precedent for future sovereign crises.
Argentina s Economy Minister Martin Guzman waves before attending a news conference to give details about the agreement with major private creditors to restructure Argentina s sovereign debt, at the Casa Rosada Presidential Palace, in Buenos Aires, Argentina August 31, 2020. Juan Mabromata/Pool via REUTERS/Files
After months of winding and tense negotiations, framed by the coronavirus pandemic, bondholders tendered 93.55% of the eligible bonds in the exchange, which with collective action clauses (CACs) allowed a near-full deal to go ahead.