Argentina, U.S. Banks Said to be Nearing Accord on Repayment of Overdue Interest

Wall Street Journal, 3/30/84, Art Pine

Summary by Josef Skoldeberg

Negotiators for a group of US banks and Argentina were reportedly close to reaching an agreement on some of the 2.5 billion dollars it owes before the bank deadline which was the next day. Argentina was very eager to finish the talks and avoid more conflict with the banks. If the banks do not get the overdue interest they are owed by the next day the banks would have had to report the lost interest as first quarter losses.