BUENOS AIRES, Argentina — Argentina announced Tuesday that it will delay paying principal on a peso-denominated bond that had been due this week while it works on restructuring an overall debt it says is unpayable at a time of economic hardship. The announcement by the Economy Ministry comes ahead of'debt restructuring talks with a mission from the International Monetary Fund. The ministry said payment of principal on the AF20 bond, which was issued in July 2018, will be put off until Sept. 30 "to be able to count on more time to be able to restructure this bond in a form consistent with the rest of the external debt restructuring. The payment had been due on Thursday. The center-left government of new President Alberto Fernández is attempting to restructure a foreign debt of some $100 billion, roughly half of which is owed to the IMF.

Source: International New York Times February 11, 2020 18:45 UTC