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Argentina delayed payments on about $9.1bn of dollar-denominated Letes notes until August 31 after calling on bondholders to negotiate a restructuring in good faith. Notes held by provinces and individuals are exempt from the delay.
The payment delay reduces near-term dollar financing needs but signals debt stress that can weigh on the peso and on Argentine import capacity. For feed buyers, the impact is mostly on currency and the country's ability to finance grain and meal trade.
gulf-times.comBloomberg/ Buenos AiresDec 21, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
