Event Publicly Available Information:
The republic has repeatedly discussed the need to restructure it\’s debt, including formalizing the external law bonds to be included (Link 1 ). It has noted that principal will no longer be paid on USD bonds (Link 2). In a press conference (Link 3), the Finance Minister reiterated that the Republic is in no condition to service principal maturity payments. In another statement, while the Republic was reprofiling local law bonds, the Finance Minister noted that the nation is temporarily serving only interest, but not principal (Link 4). On 20Mar20, the Finance Minister (transcript pending release by Ministry of Finance), noted that the republic will cease to pay coupon payments once the restructuring process formally begins.
Given these facts, and given that the Finance Minister, by regulation (Link 5), has the authority to negotiate the reprofiling of the debt, we [the submitter of the question] believe a Potential Repudiation/Moratorium to have occurred.
| Date | Description | Document |
|---|---|---|
| Closed | Americas DC Decision – Issue Number 2020032001 (Argentine Republic) – 4/8/20 Americas DC Statement - Issue Number 2020032001 (Argentine Republic) - 4/8/20 | |
| Ongoing | The DC discussed the DC Question relating to the potential Repudiation / Moratorium with respect to the Argentine Republic (Issue Number 2020032001). The DC agreed to continue discussions this week relating to the DC Question. | |
| Ongoing | The DC discussed the DC Question relating to the potential Repudiation / Moratorium with respect to the Argentine Republic (Issue Number 2020032001). The DC agreed to reconvene Wednesday April 1, 2020 to continue discussions relating to the DC Question. | |
| Vote Deferred | Americas DC Decision - Issue Number 2020032001 (Argentine Republic) - 3/26/20 | |
| Request Accepted by DC | ||
| Pending DC Consent |