Argentina and the 'Ad Hoc' bondholder group both effectively accuse one another of refusing to cede ground in order to reach a deal.
Argentina's government said that it could not "responsibly commit" to the terms offered by creditors.The "Ad Hoc" bondholder group claimed Argentina's government had "walked away" from a "comprehensive and sustainable debt restructuring offer."
The South American country and the "Ad Hoc" bondholder group, which consists of 13 international asset managers and is by far the largest creditor group to Argentina, both published statements late Wednesday effectively accusing one another of refusing to cede ground in order to reach a deal. "Furthermore, the negotiation process with our investor community has revealed that investor demands frequently diverge and cannot be readily reconciled."
Argentine President Alberto Fernandez gestures as he offers a press conference to announce new measures regarding the lockdown to slow the spread of the novel coronavirus COVID-19, at Olivos Residence in Olivos, north of Buenos Aires, on May 23, 2020.To date, 35,552 people have contracted Covid-19 in Argentina, with 913 deaths nationwide, according to data compiled by Johns Hopkins University.
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