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IMF mission concludes a preliminary “exploratory” visit to Argentina

Monday, October 12th 2020 - 09:34 UTC
Full article 43 comments
The delegation of IMF economists arrived early last week, led by Julie Kozack, Western Hemisphere deputy director for the IMF. The delegation of IMF economists arrived early last week, led by Julie Kozack, Western Hemisphere deputy director for the IMF.

An International Monetary Fund mission concluded a visit to Argentina on Sunday, after several days of preliminary talks aimed at repaying about US$ 44 billion owed by the cash-strapped government to the fund.

The delegation of IMF economists arrived early last week, led by Julie Kozack, Western Hemisphere deputy director for the IMF. “This first visit has concluded,” the government source confided to the Buenos Aires media

Argentina recently restructured about US$ 65 billion in non-performing bonds. The country is in a deep recession exacerbated by the coronavirus pandemic. The government says an IMF revamp is its next step toward debt sustainability.

In 2018, then-President Mauricio Macri signed a US$ 57 billion standby lending agreement with the fund in a failed attempt to halt a run on the local currency. Argentina got US$ 44 billion of the IMF money before suspending the “unsustainable” agreement.

Sergio Chodos, IMF executive director for the Southern Cone and Argentine representative before the organization, told local newspaper Perfil on Sunday that the mission was “exploratory” and would be followed up by more in-depth debt revamp talks probably in November.

Categories: Economy, Politics, Argentina.

Top Comments

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  • Chicureo

    Dear El Diego

    I completely agree with your comments, because ANYONE stupid enough to loan the Argentine government does not deserve payment.

    Then again, Argentina is such a rich country — why should they need to borrow anyway?

    There should be a total ban on all future loans to Argentina under any circumstances!

    This loan insanity needs to be stopped!

    Oct 12th, 2020 - 11:58 pm 0
  • imoyaro

    Nice to see another classic chantapufi reveal themselves. Of course the pic of the cheating cokehead says it all... ;)

    Oct 13th, 2020 - 12:51 am 0
  • Chicureo

    imoyaro

    El Diego is a world treasure that we should cherish and encourage his idealistic morals.

    Oct 13th, 2020 - 01:40 am 0
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