The International Monetary Fund is analyzing the impact of a new debt plan announced by Argentina’s Treasury Ministry on Wednesday, an IMF spokesman said. IMF staff understands that Argentina has taken “important steps” to address liquidity needs and safeguard reserves, the statement by IMF spokesman Gerry Rice said.
Argentina will negotiate with holders of its sovereign bonds and the IMF to extend the maturities of its debt obligations, as a way of ensuring the country’s ability to pay, Treasury Minister Hernan Lacunza said earlier on Wednesday.
Chief Spokesperson Gerry Rice made the following statement on Argentina today:
“An IMF staff team led by Mr. Roberto Cardarelli is returning to Washington today as previously scheduled. The team held productive talks with Finance Minister Hernán Lacunza, and BCRA President Guido Sandleris and their respective teams. IMF staff also met with Mr. Alberto Fernández (head of the opposition) and members of his economic team to exchange views on the Argentine economy.
“Regarding the debt operation announced by the Argentine authorities today, Fund staff is in the process of analyzing them and assessing their impact. Staff understands that the authorities have taken these important steps to address liquidity needs and safeguard reserves.
“Staff will remain in close contact with the authorities in the period ahead and the Fund will continue to stand with Argentina during these challenging times.”