IMF starts strategic visit to Argentina

The international organization initiated an inspection of the nation to make a debt restructuring

An International Monetary Fund (IMF) delegation is currently visiting Argentina in order to make a debt restructuring.

The event is included in the current economic agenda of Argentine President Alberto Fernández, and considered indispensable.

The mission is commanded by Julie Kozack and Luis Cubeddu. This is considered the first IMF visit to Argentina since Fernandez took office last December.

During the government of Mauricio Macri, ended in 2018, a standby agreement for 57,000 million dollars was signed.

The stay of this commission will last until February 19 with meetings behind closed doors “to continue the dialogue on the government’s economic program and economic prospects. It will also be an opportunity to learn more about the authorities’ strategy regarding the Argentina’s debt situation”, said an IMF spokesperson.

Fernández argues that the debt is unpayable while the country is in recession since mid-2018, with annual inflation of more than 50%, strong monetary depreciation and rising poverty and unemployment recover economic growth.

K. Tovar

Source: Bancaynegocios

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