On 4 Aug. 2020, after 8 months of negotiations, Argentina’s govt. announced it had reached a deal with its main groups of creditors to restructure over USD 65 billion in sovereign debt. The govt. has extended its debt offer invitation until 24 Aug. 2020, while the settlement date remains 4 Sept. 2020. The new deal implied economic improvements, since Argentina’s last proposal was 53.5 cents on the dollar, with the final agreed value calculated at about 54.8 cents on the dollar. The new securities to be issued as compensation for accrued interest and by additional consent will begin to amortize in January 2025 and will expire in July 2029. The agreed deal is a huge relief to Argentina, celebrated by the President, and a great victory for the 37-year-old Economy Minister Martín Guzmán who led the entire negotiation process. According to official sources, this agreement will give Argentina a financial relief of USD 42,500 million in five years. Argentina will next have to renegotiate its USD 44 billion debt with the IMF, and its USD 2.1 billion debt with the Paris Club.