Argentina Plans $318 Million Bond Buyback

Argentina plans to buy back up to $318 million in debt as part of its restructuring program. The government has designated 19 bonds for buy back, including local currency bonds given to bank depositors in exchange for accounts frozen after the sovereign default in 2001, as well as US dollar and local-currency discount bonds issued as part of the restructuring program. The buy back will reduce the country’s debt-to-GDP ratio.