The president of Argentina, Alberto Fernández, asked the International Monetary Fund (IMF) for an extension of the term to pay the debt after agreeing with the vice president, Cristina Fernández, that currently the debt is “unpayable “.

Fernández indicated that the fund should recognize the economic catastrophe the country is facing, especially as a result of the coronavirus pandemic, and review the terms of a 45 billion dollar debt that the country has contracted with the IMF.

The idea is to generate a payment mechanism that extends as long as possible to avoid “the suffering of society,” said the president, who insisted that the longer the term, “the more friendly it will be.”

“How are we going to pay 18,000 million dollars to the IMF next year? If someone has an answer, he will get my attention,” said the president, who stressed that the problem “the thing is not to pay but to obtain an agreement that allows maintaining the economic plan of the government”.

K. Tovar

Source: dpa

La entrada President of Argentina asks for more time to pay the debt apareció primero en Bitfinance.

The president of Argentina, Alberto Fernández, asked German Chancellor Angela Merkel for help in negotiating the payment of the debt with the International Monetary Fund (IMF).

Fernández thanked the support that Germany has provided to Argentina so far in the international organization, “just as it did at the time in the closing of an agreement with private bondholders, which relieved the country of external obligations and gave time to fiscally order the accounts,” according to a statement issued by the Government.

For her part, Merkel reaffirmed her commitment to the Latin American nation, assuring: “We have always supported them and we will continue to do so.”

In November 2020, the IMF mission in Argentina concluded to negotiate a new facility program with 10-year maturities of some $ 45 billion of debt from the South American country to the Fund.

On the other hand, Fernández asked Merkel to deepen the link with Germany, and with Europe, to advance the agreements with Mercosur, of which he holds the pro tempore presidency.

K. Tovar

Source: Proceso

La entrada Argentina asked Merkel for help to negotiate debt with the IMF apareció primero en Bitfinance.