Special Report No. 407 (PDF version) "Reopening of Debt,
A first analysis"
By Ramiro Castiñeira
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Last week the government announced the reopening of the public debt-default status which has now reached U.S. $ s20.000 million. In his presentation The government said he could not give details of the proposal until the Security and Exchange Commission of the United States (SEC) approved the transaction to enable Argentina to issue debt under American law.
But with the passage of time and details have leaked the offer that would have introduced three international banks to the Government opened a new round of negotiations. Despite the lack of official information by legal constraints in Econometric SA we felt that the rumors that are circulating unofficially on the market are careful enough to be analyzed to gain a first approximation what could be the proposal to reopen the debt swap. As more information becomes available, we will update our analysis in future reports.
