Argentina postpones ‘unsustainable’ bond repayment

Buenos Aires (AFP) – Recession-hit Argentina said on Tuesday it was postponing the payment of a bond after failed attempts to exchange it for other securities.The decision, announced by the economy ministry, comes a day before a delegation from the International Monetary Fund was due to arrive in Buenos Aires to discuss the restructuring of the South American country’s crippling debt to the global financial institution.Argentina’s external debt is $311 billion, according to the latest figures, of which it owes $44 billion to the IMF.The bond, worth 95 billion pesos ($1.55 billion), was issued …

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