The Fernández government tabled an improved offer to bondholders last week after carefully analysing counteroffers presented by some of the bondholders.
Vincetín is Argentina’s sixth largest agricultural exporter. However, the locally owned firm filed for bankruptcy last year after its finances were deeply impacted.
Private enterprise and determination to control key economic sectors for this failure, raising concerns that the Fernández administration’s economic policy is becoming increasingly radicalised.
The political opposition complains that this is not an immediate priority given that the country is still struggling with the coronavirus (Covid-19) pandemic.
Threshold required to reach a global agreement, increasing its leverage over some of the larger bondholders such as Black Rock, US investment management firm.
The Fernández government is still engaged in high stakes negotiations with the country’s two largest bondholder groups, the Ad Hoc Group and Argentina Exchange.
The move adds further weight to reports that Argentina hopes to isolate and heap pressure on the more stubborn bondholders that have so far rejected its offer.
The recent attacks come against the backdrop of an increase in the export tax on soybeans and its intervention in the agricultural export firm Vicentin.
