Argentina asks Congress to reopen 2005 debt swap (at Reuters)

BUENOS AIRES, Oct 26 (Reuters) - Argentina's government sent a bill to Congress on Monday to allow it to go forward with a debt restructuring to try to mop up some $20 billion in defaulted bonds. If voted into law, the bill will overturn the "Ley Cerrojo," or Bolt Law, which effectively sealed a 2005 debt deal from being reopened to give a second chance to investors who did not agree to the unfavorable conditions of that swap. The bill is expected to be easily approved in coming weeks, according to congressional sources and local media reports. A spokesman at the congressional office that receives bills from the executive branch told Reuters the bill was presented on Monday evening. The content of the bill has not yet been made public and is not expected to contain details on the terms of a new offer to investors, one of the... [read full story]                    

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