BUENOS AIRES, May 19 (Xinhua) -- Argentina is open to extending its May 22 deadline for renegotiating its foreign debt with creditors, Economy Minister Martin Guzman said on Tuesday.
"There's a great chance the deadline will be extended ... We are in the middle of a negotiation, both sides are working to reach an agreement," Guzman said during a virtual conference with the U.S. Chamber of Commerce and U.S.-Argentina Business Council.
Argentina hopes to restructure its debt obligations on an estimated 68 billion U.S. dollars in foreign debt.
In April, the government presented a debt restructuring plan that includes a three-year grace period that allows the country to begin servicing the debt starting in 2023, shaves 5.4 percent off the capital payments, and cuts 62 percent off the interest payments.
"We're flexible," said Guzman, but committed to finding a solution that will enable Argentina to sustainably meet its debt obligations.
"What we need is a sustainable agreement that brings together the conditions needed to put Argentina back on its feet," he said. Enditem
