(Bloomberg) --With just a few days before a crucial midterm election in Argentina, scepticism is growing that Scott Bessent can pull off the second half of his US$40-billion rescue package.
The US Treasury has been floating a US$20-billion financing deal involving banks, including JPMorgan Chase & Co, Bank of America Corp, Goldman Sachs Group Inc and Citigroup Inc, according to people familiar with the matter. But key details such as the debt’s terms, structure and collateral remain unaddressed, leading to increasing doubt that such a complicated and large deal can be pulled together in a matter of days, the people said, asking not to be identified discussing private information.
People with knowledge of the banks’ work so far said their firms have yet to identify what collateral in Argentina would back the loans and that they’re relying on the US Treasury for a breakthrough.
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