Good Bye Debt, Hello IMF

Finally, and just when the negotiations appeared to be falling apart, the government announced an agreement with the three main groups of bondholders that should lead to a successful restructuring of the sovereign debt.  By the time these groups agreed, roughly 40% of the bondholders had already accepted the offer.  The three groups represent another 40 to 45 percent of the total stock of bonds, and it is very likely there will be other investors that will follow suit.