Argentine Senate passes debt-restructuring bill

Buenos Aires (AFP) – Argentina’s Senate passed a bill on Wednesday granting the government wide powers in restructuring the country’s colossal debt.The Senate voted unanimously on the measure — already approved by the lower house — which allows the executive to restructure bonds issued in foreign currency. Congress “sent a clear signal” of Argentina’s willingness to pay, said Daniel Lovera, a senator from the center-left majority.Reducing the debt burden has been a priority for Argentina’s new President, Alberto Fernandez, who hopes to reach an agreement with private creditors and the Intern…

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