⁍ Argentina will make interest payment due on dollar and euro-denominated ‘Par’ bonds on Wednesday this week.


⁍ The country’s Economy Ministry said in a statement on Monday, closing off an unresolved issue from its recent major debt revamp.


⁍ The government had failed to restructure a small number of bonds, including the Pars, as part of an otherwise successful $65 billion foreign debt restructuring.


– Argentina has decided it’s time to move on from its debt mess. The country’s economy ministry said in a statement that it will pay $12 million in interest on its dollar- and euro-denominated “Par” bonds on Wednesday in order to avoid “adverse consequences and uncertainty for Argentina and the investment community,” the Wall Street Journal reports. The country had been considering making a second offer to the 1% of investors who refused to exchange their bonds for new ones as part of a $65 billion restructuring, but the ministry said that “the costs of making a second offer were not justified, especially given the uncertainty of a favorable outcome.” “This decision is an additional step on the agenda to bolster the Argentine economy and continue on the path of economic-financial normalization,” the statement said.



Source: https://www.reuters.com/article/us-argentina-debt/argentina-to-pay-interest-on-par-bonds-it-failed-to-restructure-idUSKBN26J3AV