• Argentina.Fernández partially reverses the expropriation of an agro-export company

Argentina is close to closing an agreement for the renegotiation of 66,000 million dollars of its external debt, at the same time that the government of Alberto Fernández gave up expropriating the agro-export firm Vicentín, confirming the scarce social support for the measure.

Despite the fact that the Ministry of Economy told EL MUNDO that it is not yet in a position to confirm anything, the local media assume that the agreement is one step away from being consummated. According to the TN news channel , the Economy Minister, Martín Guzmán, reported on Monday the resolution favorable to the ruling party's deputies and "the agreement is closed."

The specialized agency Bloomberg noted that both parties made "progress over the weekend" and creditors will receive 54.8 cents for every dollar invested in Argentine bonds, a midpoint between the latest proposal from Buenos Aires and the demands of the holders of bonds.

The news, highlighted Infobae, "consolidated the strong rebound of Argentine stocks on Wall Street, amid optimism about the possibility of giving a positive closing to the negotiation" and lowered the country risk, which fell to 2,119 points . Although still an astronomical figure, it is the lowest since March 4.

The offer that creditors are about to accept is the fifth since negotiations began in February. The deadline for acceptance of the fourth offer expired this Tuesday, but both parties agree to extend it for a few days in order to close the details of the renegotiation.

The good news for the third economy in Latin America comes in hours when the government buried its controversial decision to expropriate the agro-export firm Vicentín, one of the country's leading companies in its area.

After alleging weeks ago that expropriating the company guaranteed "food sovereignty", Fernández stressed this weekend that the judge intervening in the firm's preventive contest did not allow state intervention: "In these conditions, we are not willing to take risks that they could bring as a consequence the nationalization of private debt so that the Argentines and the Argentines must take charge of the irresponsible behavior of the current administrators. "

With the decree that repeals his own decree two months ago, Fernández removes from himself a problem that he himself had created by deciding to intervene and expropriate the company, which is experiencing major economic problems. More than 60 cities throughout Argentina were the scene of marches against the government's decision, which soon found that it was not so easy to advance with the measure, which several experts defined as unconstitutional.

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