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Argentine black market peso hits low, risk rises before debt proposal
By , BUENOS AIRES (Reuters) - Argentina’s black market peso and its official currency both hit new lows on Thursday ahead of the country’s long-anticipated offer to creditors for restructuring about $70 billion in debt.Latin America’s third largest economy is set to make its proposal to international creditors later on Thursday in order to push back payments on bonds issued under foreign law.With the proposal already delayed from Argentina’s target date of March 31 due to the coronavirus pandemic, bondholders said they are preparing for steep losses amid a lack of information from the...…By , BUENOS AIRES (Reuters) - Argentina’s black market peso and its official currency both hit new lows on Thursday ahead of the country’s long-anticipated offer to creditors for restructuring about $70 billion in debt.Latin America’s third largest economy is set to make its proposal to international creditors later on Thursday in order to push back payments on bonds issued under foreign law.With the proposal already delayed from Argentina’s target date of March 31 due to the coronavirus pandemic, bondholders said they are preparing for steep losses amid a lack of information from the...WW…
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