BUENOS AIRES — Argentine bond prices fell 1.3% on Thursday after the International Monetary Fund essentially gave the government a green light to restructure its bonds, the latest chapter in the once-wealthy country's long history of financial crises. The Fund, wrapping up a week-long visit to Argentina, said rising public debts meant the country needs a definitive plan to restore debt sustainability, which would require a "meaningful contribution from private creditors." The question is how much of a haircut private creditors will be asked to take in the upcoming bond revamp. "The IMF opened the door for Argentina to begin debt restructuring. Now the focus shifts to determining what a 'meaningful contribution from private creditors' means, and what will happen with the debt Argentina owes to the fund," local brokerage SBS Group said in a report.

Source: International New York Times February 20, 2020 16:52 UTC