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.
- 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.
- 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.
- 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.
- Argentine government determines final structure of proposal to restore debt sustainability.
- Government addresses frequently asked questions.
- Argentina formally launches offer to bondholders.
- Holds road-show style meetings about the offer in the second and third week of the month.
- 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)