Gramercy Statement on Agreement Between Argentina and its Creditors

Gramercy Statement on Agreement Between Argentina and its Creditors
Source - AsiaNet Press Release (Th/Eng)

Wednesday, August 05, 2020  09:49
43646 XPR XENGLISH XGEN XINTER PRN GEN PRNUS PRN V%PRI P%ANPI

          GREENWICH Connecticut--5 Aug--PRNewswire/InfoQuest

Gramercy Funds Management issued the following statement after the Argentine Government announced an agreement was reached today between Argentina and an important subset of its creditors.

"We believe that this consensual breakthrough is yet another important building block in the collaborative approach needed to help address Argentina's debt challenges," said Robert Koenigsberger, founder and CIO of Gramercy. "This agreement will allow the country to sustain high growth, reduce poverty, and enable more Argentines to meet their legitimate aspirations for a better standard of living for their families – all of which are also essential for improving creditworthiness and breaking the cycle of boom-bust external financing."

"Gramercy will continue to work closely with the Argentine authorities and other stakeholders with a view not only to finalize this important debt agreement but also to open the way for more pro-growth and financially-sustainable investments in Argentina," Koenigsberger concluded.

About Gramercy Funds Management
Gramercy is a dedicated emerging markets investment manager based in Greenwich, CT with offices in London and Buenos Aires. The $4.75 billion firm, founded in 1998, seeks to provide investors with superior risk-adjusted returns through a comprehensive approach to emerging markets supported by a transparent and robust institutional platform. Gramercy offers both alternative and long-only strategies across emerging markets asset classes including capital solutions, private credit, distressed debt, USD and local currency debt, high yield/corporate debt, and special situations. Gramercy is a Registered Investment Adviser with the SEC and a Signatory of the Principles for Responsible Investment (UNPRI). Gramercy Ltd, an affiliate, is registered with the FCA. For more information, please visit www.gramercy.com