Argentine debt agreement offers partial solution
CGTN
Argentina has just reached an agreement with three creditor groups to restructure 65 billion U.S. dollars of its debt. The deal will see creditors receive 55 cents on the dollar. That was more than President Alberto Fernández's government wanted, having initially aimed for 39 cents on the dollar last week.
At the same time, the agreement will only offer a partial solution to Argentina's economic woes. The deal only covers 20 percent of Argentina's overall public debt, which totals 323 billion U.S. dollars. For the remainder, the government will either need to repay it, reschedule it, or default on it.
