January 30, 2020 / 3:48 PM / 24 days ago

TIMELINE-Argentina's two-month race to solve $100 bln debt crunch

BUENOS AIRES, Jan 30 (Reuters) - Argentina’s Peronist government is facing a race to complete debt negotiations with creditors by the end of March to restructure around $100 billion in debt payments and avoid falling into a damaging default.

The economy ministry has now laid out a detailed timeline of how it intends to get there.

FEBRUARY WEEK ONE

- The newly formed external debt unit invites feedback and proposals from banks, intermediaries and financial advisers over legislation surrounding debt sustainability currently going through Congress.

- Argentina’s Senate debates debt sustainability bill.

- Economy Minister Martín Guzmán meets with the International Monetary Fund’s managing director, Kristalina Georgieva, in Rome on the sidelines of a Vatican seminar.

FEBRUARY WEEK TWO

- Selection and hiring of information agents following proposals.

- Argentine government receives IMF mission in Buenos Aires between Feb. 12-14.

- Guzmán presents guidelines based on analysis of public debt sustainability to Congress between Feb 12-17.

FEBRUARY WEEK THREE TO FOUR

- Selection and hiring of distribution agents and financial advisers from proposals received.

- A 10-day period of meetings and talks with bondholders.

- Government prepares report based on the comments of the holders of the country’s external public debt.

MARCH WEEK ONE

- Argentine government determines final structure of proposal to restore debt sustainability.

- Government addresses frequently asked questions.

MARCH WEEK TWO

- Argentina formally launches offer to bondholders.

- Holds road-show style meetings about the offer in the second and third week of the month.

MARCH WEEK THREE TO FOUR

- Deadline expires for accepting the offer.

- Argentina publicly announces results of the offer.

- Prepares documentation to execute the proposal. (Reporting by Hernan Nessi; writing by Adam Jourdan; editing by Jonathan Oatis)

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