Implode-o-Meter News - Argentina Seeks to End Dispute With Creditors

Ending the long-running saga is seen as crucial if Mr. Macri is to jumpstart a stagnant economy mired in double-digit inflation driven by the generous spending policies of his predecessor, Cristina Kirchner, and hobbled by a lack of access to capital markets. A settlement would lower borrowing costs for the government and corporations as Mr. Macri looks to overturn 12 years of populist policies... But the negotiations also carry political risk for a fledgling government in a country where many consider the creditors "vultures" out to gut Argentina.
The holdouts also include thousands of smaller creditors in Argentina and Europe who bought the sovereign bonds at full value before the default. A settlement with all of the holdout creditors could cost Argentina about $10 billion, according to economists.

Guillermo Nielsen, a former finance secretary who led the 2005 restructuring, said the Macri administration would likely cushion the blow of the payout by swapping the defaulted securities for new bonds rather than paying in cash.
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A deal would likely require approval from lawmakers to overturn legislation that prevents Argentina from providing the holdouts with better terms than previous restructurings. That could be a challenge in a Congress full of Kirchner loyalists.

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Argentina Seeks to End Dispute With Creditors