Argentina: Proposed Liability Management Initiatives Welcome by Markets but Steady Fiscal Deterioration Sets a Floor for Debt Spreads

Argentine bonds have rallied in recent weeks lifted by a favorable global market context and increased talk about potential liability management initiatives. The latter could include a swap of CPI-linked debt, a reopening of the debt exchange for holdout creditors, the payment of debt due to the Paris Club, an agreement with the IMF and […]