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Argentina: Thousands rally against President Macri's debt deal in Buenos Aires01:12

Argentina: Thousands rally against President Macri's debt deal in Buenos Aires

Argentina, Buenos Aires
March 16, 2016 at 10:08 GMT +00:00 · Published

Thousands marched through Buenos Aires on Wednesday, protesting the financial policies of President Mauricio Macri.

The demonstration was flanked by scores of police officers armed with batons. One demonstrator denounced Marcri for breaking his election pledges, stating “Zero poverty - he said there would be no more poor. But what is Macri doing? Selling the whole country. Giving it up.And the poor people? We’re poorer than ever."

Argentina's president has come under increased pressure for discussing a national debt deal that could re-open the doors for international creditors. The proposed settlement would see Argentina pay holdout creditors $4.65 billion (€4.10 billion) and thus resolving all claims and allowing it to regain access to the international credit market, after over a decade of exclusion and multiple lawsuits from US hedge funds following its default on $100 billion (€89.16 billion) in bonds amid the 2001-2002 financial collapse. 

Before entering into force the agreement must be approved by both houses of Congress and the Senate.

Argentina: Thousands rally against President Macri's debt deal in Buenos Aires01:12
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Description

Thousands marched through Buenos Aires on Wednesday, protesting the financial policies of President Mauricio Macri.

The demonstration was flanked by scores of police officers armed with batons. One demonstrator denounced Marcri for breaking his election pledges, stating “Zero poverty - he said there would be no more poor. But what is Macri doing? Selling the whole country. Giving it up.And the poor people? We’re poorer than ever."

Argentina's president has come under increased pressure for discussing a national debt deal that could re-open the doors for international creditors. The proposed settlement would see Argentina pay holdout creditors $4.65 billion (€4.10 billion) and thus resolving all claims and allowing it to regain access to the international credit market, after over a decade of exclusion and multiple lawsuits from US hedge funds following its default on $100 billion (€89.16 billion) in bonds amid the 2001-2002 financial collapse. 

Before entering into force the agreement must be approved by both houses of Congress and the Senate.

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