ASSESSMENTS

The Price of Argentina's Debt Deal

Mar 8, 2016 | 23:12 GMT

Renewal Front leader Sergio Massa arrives in Buenos Aires for a press conference in October 2015.

(EITAN ABRAMOVICH/AFP/Getty Images)

After lengthy negotiations, Argentina finally reached an agreement with its foreign creditors last week. But now, leaders are faced with the arduous task of convincing Congress to approve the legislation needed to comply with the deal -- a necessary step if Argentina hopes to once again gain access to global capital markets. Under the terms of the agreement, Argentina must give $4.5 billion to its creditors by April 14, repaying about 75 percent of what it owes. Before it can do so, though, Argentine President Mauricio Macri's administration must convince lawmakers to repeal what are colloquially known as "the lock laws," which prohibit the government from settling its debt....

Subscribe to view this article

Subscribe Now

Subscribe

Already have an account?