IMF mission begins talks in Argentina; Government presented his fiscal plan to Congress

Thursday, February 13th 2020 - 10:12 UTC

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Recession-hit Argentina opened talks on Wednesday with a team from the IMF, seeking relief from what President Alberto Fernandez says is an unsustainable foreign debt. The delegation, led by Julie Kozack and Luis Cubeddu, arrived in Buenos Aires for a week-long visit as left-wing groups staged public protests to demand a suspension of debt payments. Read full article

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Enrique Massot
We have to remember that, as Argentina was sinking into its deep 2001 financial crisis, the IMF decided to cut off its support.

Just a couple weeks after the IMF's Dec. 5 announcement, then president Rodríguez Saá declared the country's default, an outcome that benefited no one -- neither Argentina nor its creditors.

Now, the signs are that negotiations towards a realistic outcome may take place -- and that would be appropriate if both parties share responsibility for a debt much larger than reasonable, granted in record time and without any realistic probabilities that the country would be able to pay back its dues.

Allowing Argentina to get back on its feet so it can grow its economy and pay back its dues is the best option.
Feb 13th, 2020 - 09:19 pm - Link - Report abuse 0
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