Gov't creates Debt Restructuring Unit
The creation of the Debt Restructuring Unit to be headed by Hernán Lorenzino has been made official. With the signatures of President Cristina Fernández de Kirchner, Cabinet Chief Jorge Capitanich and new Economy Minister Axel Kicillof, the decision was published in the official bulletin today.
The 1935/2013 decree explains ex Economy Minister Lorenzino has been granted with secretarial rank on an ad honorem basis. He will be assiste by Adrián Cosetino who has been appointed coordinator of the office.
The Unit will take part in negotiations with multilateral, public or private organizations involving debt-related issues of Argentina’s finance policy and foreign indebtedness.
In the decree, the government points out the decision has been made considering a Argentina’s current “process of renegotiation and debt restructuring” adding such policy has resulted “efficient to curb public indebtedness costs.”