With talks failing to make serious headway, Argentina's government must now decide whether it will make a payment on the principal worth US$731 million this Friday.
Argentine bonds are testing new lows as concern grows that the government will struggle to reach a refinancing deal with the International Monetary Fund before large payments come due in March.
Argentina sharply reduced its budget deficit in 2021 as President Alberto Fernández tries to cut down on spending amid talks with the International Monetary Fund.
Meeting between government and opposition to discuss talks to restructure multi-billion-dollar debt with the International Monetary Fund fall through, casting doubt over bipartisan support for deal.
Economy Minister Martín Guzmán discusses ongoing talks with the International Monetary Fund and warns the lender risks losing credibility if it "pushes" the country "into a destabilising situation."