Is the Fourth Time the Charm?

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Is the Fourth Time the Charm?

First week
July 2020

Argentina submitted its fourth sovereign debt restructuring proposal under foreign law. This time it smells like a goal, but the ball still has to hit the net. Not only has it improved the financial terms, but it has also made legal concessions that make it attractive to many bondholders, although the last word has not yet been uttered, and we will have to wait for BlackRock's reply and especially the one from creditors who hold bonds from the 2005 swap.