Minister confirms Argentina will seek a new support program from IMF

Wednesday, July 29th 2020 - 09:58 UTC

Full article 6 comments

Argentina will seek a new program with the International Monetary Fund whatever the outcome of talks with holders of its US$ 65 billion of defaulted overseas bonds, Economy minister Martin Guzman said. Read full article

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Dirk Dikkler
The Begging Bowl is back out for MORE MONEY !???, if they cant afford the current Loans what makes them think they can afford New ones ?
Jul 29th, 2020 - 09:07 am - Link - Report abuse 0
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Pugol-H
Dirk Dikkler
It’s affordable when you consider they have no intention of paying the money back.

This will be for the next default.
Jul 29th, 2020 - 03:31 pm - Link - Report abuse +1
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Don Alberto
Looking forward to see the usual Kirchner supporters condemn this as they condemned the Macri government for the very same “sin”.
Jul 29th, 2020 - 04:52 pm - Link - Report abuse 0
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Pugol-H
It will be interesting to see what the interest rate is, if a loan is agreed.

https://en.mercopress.com/2020/07/22/argentine-debt-negotiations-cristina-fernandez-praises-minister-guzman-s-performance

“Argentina in 2016 returned to the international money market and started to take debt at interest rates of 7% when the rest of the world was working with rates almost at zero”, argued the minister.

Let us see if minister Guzboy can do any better.
Jul 29th, 2020 - 11:45 pm - Link - Report abuse 0
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Chicureo
Pugol-H

That's the fun question...

...Argentina borrows capital at a high interest and initially pays back the principal with those high interest rates for a brief period, before defaulting...

Is all an elaborate Ponzi scheme that has only the Chinese and perhaps Iran interested yo negotiate... (Knowing the slippery Argentines, they'll obtain somehow a new emergency economic lifeline — perhaps from the IMF.)
Jul 30th, 2020 - 09:02 pm - Link - Report abuse 0
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Pugol-H
And where is Enrique to explain how their borrowing at 7% is ok, but Macri’s wasn’t.

Otherwise we might not understand and come to a wrong conclusion.
Jul 31st, 2020 - 04:53 pm - Link - Report abuse 0
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