By Adam Jourdan and Rodrigo Campos
BUENOS AIRES/NEW YORK (Reuters) – Argentina’s government is set to lay out “guideposts” for its near $70 billion restructuring of foreign debt, though is not yet ready to make a formal proposal to creditors, a person briefed on the government’s plans told Reuters on Monday.
The South American country, which had initially set the end of March as a deadline for reaching a deal with bondholders, has faced delays in the process due to the coronavirus pandemic that has hammered global economies and shut down borders.
The person, who asked not to be identified because the ongoing talks are not public, added that the Argentine government also intended to make a roughly $225 million interest payment due on Tuesday as it looked to keep creditors at ease.
Argentina’s economy ministry did not immediately respond to a request for comment.
(Reporting by Adam Jourdan and Rodrigo Campos; Editing by Tom Brown)
