MercoPress. South Atlantic News Agency

IMF and Argentina say they held very productive talks in a New York meeting

Economy Minister Martin Guzman, called the meeting it “very productive” and said debt sustainability and Argentina's economic situation were discussed.

IMF officials and Argentina's economy minister met in New York on Tuesday for what they called “productive” and “positive” talks as the South American nation looks for help from its main creditor to alleviate a challenging debt situation.

Economy Minister Martin Guzman, in comments to journalists after the meeting, called it “very productive” and said debt sustainability and Argentina's economic situation were discussed.

“We are taking steps. It is part of a process to solve the crisis in an integral way,” Guzman said.

Guzman said he met with a U.S. Treasury official on Monday and had plans to meet with International Monetary Fund (IMF) Managing Director Kristalina Georgieva in Italy next week.

Georgieva and Guzman are both listed as speakers at a Feb. 5 Vatican conference by the Pontifical Academy of Social Sciences.

Guzman met in New York with Luis Cubeddu, head of the IMF mission in Argentina, and Julie Kozack, the IMF deputy director for the Western Hemisphere.

The new administration of Argentine President Alberto Fernandez, who took office just last month, is preparing to renegotiate about US$100 billion in sovereign debt.

The IMF has a US$ 57-billion financing agreement with Argentina, which is Latin America's third largest economy. Fernandez has set a March 31 deadline to renegotiate Argentina's public debt.

Cubeddu, speaking to reporters as he left the meeting with Guzman, said it was “extremely positive” and had lasted more than an hour.