Por Miguel A. Kiguel
Todos sabemos cómo funciona el cepo, y hemos aprendido a vivir con tasas de interés reales negativas, a usar el dólar Contado con Liqui para eludir los controles...
Twists and Turns Awaiting Better Definitions
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Twists and Turns Awaiting Better Definitions
First week
February 2020
The first chapter of negotiations between the Province of Buenos Aires and creditors regarding the BP21 ended today, when unable to strike a deal with over 75% of bondholders, the local government was forced to service the entirety of the capital payment, USD 250 million, with its own funds and against its original intentions. Together with the swap announcement for the AF20 dual bond, made last Friday and which should close today, these are great examples of the way negotiations can be when they are not made in advance and with clear definitions. Neither a fiscal plan nor an integral swap proposal regarding jurisdiction have been released yet. This applies to both the Nation and the Province of Buenos Aires. So far, negotiations with creditors seem to be running on the go, as maturities come close.
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