Business daily

Argentina's creditors back $65 billion debt restructuring deal

BUSINESS DAILY
BUSINESS DAILY © FRANCE 24

Creditors have voted overwhelmingly in favour of a deal to restructure $65 billion worth of Argentina's debt. The government said the deal would help bring financial relief worth $37.7 billion by 2030. The agreement - concluded last month - also paves the way for Buenos Aires to re-negotiate its bailout with the International Monetary Fund. Argentina is in its third year of recession, with high inflation and rising poverty levels, a situation that has been exacerbated by the coronavirus pandemic.