This week is the deadline to enter the sovereign debt restructuring under international legislation. Most of the public comments from bondholder groups pointed to a rejection of the proposal, considering it unilateral and lacking an economic plan that would make the debt level sustainable in the future. Momentarily, the Ministry of Economy was inflexible, although some comments from the Ministry would point to a slightly better predisposition to negotiate or extend the deadline. If the government's inflexibility remains, it risks facing a hard default when the grace period expires due to the coupons of global bonds that should have been paid on April 22.
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Fixed Income Weekly