The Buenos Aires government announced that on Wednesday July 21 it reached an agreement with its main creditor and other bondholders "on terms and conditions that will allow amending the formal invitation" to carry out the debt swap under foreign legislation. The new terms will imply a reduction in total services during the 2020-2024 period of approximately US $4.45 billion (equivalent to 75% of the original commitments), the repayment terms will be tripled, while there will be a significant reduction in the total cost of debt. In this way, the maximum coupon that the Province had to face prior to the restructuring will be reduced by about 40%, while the average coupon will be reduced to 5.6%. In 2020 the Province launched a debt swap process for US $ 7.1 billion, which was extended 20 times due to the difficulty of reaching an agreement.