Argentina missed a Friday deadline to reach an agreement with international creditors to restructure its massive debt, but negotiations will continue, its minister for the economy said.
The two sides have been deadlocked over Argentina’s $65 billion debt, with the three main bondholder groups rejecting a government restructuring proposal, saying they were unwilling to swallow “disproportionate” losses on their investment.A 30-day grace period for a $500 million bond payment that Buenos Aires has already missed expires on May 22.
“We will do everything we can without mortgaging the present and the future of the Argentines,” he said.
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