BUENOS AIRES — Argentine bonds were paralyzed on Monday as investors awaited word from debt talks between the cash-strapped government and its biggest creditor, the International Monetary Fund, that were expected to set the tone for a massive bond restructuring ahead. Local debt prices took a hit last week after the government was forced to abandon a bond sale due to low investor interest, and then stunned holders by unilaterally pushing back the principal payment of a local bond that had been due on Thursday. A team of IMF economists is in Buenos Aires negotiating the rejig of $44 billion in loans that Argentina says it cannot pay. A statement expected from the fund on Wednesday, at the conclusion of the talks, may indicate how much debt relief it is willing to grant, and how supportive it will be of the country's plan to restructuring more than $50 billion in sovereign bonds.

Source: International New York Times February 17, 2020 17:26 UTC