: President Mauricio Macri hopes closing that painful chapter in the country history will bring down borrowing costs across Latin America third-largest economy and attract the investment needed to kickstart growth, according to The Guardian. Investors seemed convinced of his strategy on Tuesday. Most proceeds from the auction, which was four times oversubscribed, will go to finally settling Argentina messy legal dispute with investors over unpaid debt that emerged from the $100bn default that plunged millions of middle class Argentinians into poverty. Argentina received offers worth $68.6bn from investors around the world, two-thirds of them based in the United States, said the finance minister Alfonso Prat-Gay late on Tuesday. On Friday, when we receive the funds in our account, we will pay the $9.3bn owed to holdouts. We could even have issued twice as many bonds, Prat-Gay told a news conference in Buenos Aires.
(news.financializer.com). As
reported in the news.
Tagged under , topics.