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Montevideo, December 8th 2022 - 20:08 UTC

 

 

Fernandez expects IMF to grant Argentina more flexible repayment terms

Tuesday, February 9th 2021 - 09:43 UTC
Full article 31 comments
 Fernández said in the interview that Economy Minister Martín Guzmán would travel to Washington at month’s end with an eye towards postponing maturities Fernández said in the interview that Economy Minister Martín Guzmán would travel to Washington at month’s end with an eye towards postponing maturities

President Alberto Fernández believes the International Monetary Fund (IMF) should grant Argentina more “flexible” terms on the repayment terms of the debt and warned that increasing inflation could lead his government to again hike export taxes, the president said in an interview on Sunday with newspaper Página/12.

Argentina has for months been in talks with the IMF to restructure the terms of a US$ 57 billion 2018 loan sought by Fernandez´s predecessor Mauricio Macri to confront an economic crisis that has skyrocketed poverty levels.

Fernández said that Economy Minister Martín Guzmán would travel to Washington at month’s end with an eye towards postponing maturities to give the country more flexibility – and funds – to deal with problems at home.

Argentina is on track for 50% inflation in 2021, a sharp increase from the 36.1% officially reported last year, according to a market survey published on Friday by the central bank.

The president also warned he could hike taxes on agricultural exports or impose new quotas on exporters to tame yawning inflation.

“The state only has two channels to solve the problem, two tools that it would prefer not to use: raise export taxes or implement quotas,” Fernández said.

“I am telling you publicly that I cannot let this continue to happen, because the risk is that, with the pandemic, prices of these products continue to rise and we are not willing to tolerate it,” he added.

The region’s third-largest economy fell into recession in 2018, following almost a decade of stagnation, and has since been ravaged by the COVID-19 pandemic, with jumps in poverty, unemployment and consumer prices.

Fernández said in the interview that more Sputnik V vaccines are expected from Russia shortly, as well as a shipment of the AstraZeneca coronavirus vaccine, providing flickers of hope for the ailing economy.

“I continue with the idea that vaccines (will arrive) between now and March 31 … and to count on them to vaccinate 13 million people who are at risk,” Fernandez said.

With information from Reuters

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  • Chicureo

    Estimado THINK

    Oh I guess I am from the wrong century — as you are as well...

    ...sexual scandals and rigorous procreation have been with us for all of time...

    I’m not bemoaning your dear country taking advantages of IMF’s Krista Lina Georgieva — I’m instead just predicting the final last phase of the Tango dance with your country.

    I am not alone in that thought...

    It’s not whether she will or not will be forcibly violated — but instead just how slippery the natural lubricant will be — when the invariable violation happens.

    As far as your country — I just want to remind you of a helpful negotiation tactic:

    “Say it in flowers,
    Say it in mink,
    But never — never say it in ink...”

    Of course the pandemic has given your country a perfect excuse to demand a debt forgiveness-slow-dance of ever paying back the original agreement.

    ¡Saludos!

    Feb 09th, 2021 - 09:49 pm +2
  • Chicureo

    As mentioned — the IMF is leaning the beautiful but sad ending of a traditional Tango and the end is always tragic...

    Feb 09th, 2021 - 02:56 pm +1
  • Chicureo

    Estimado THINK

    Truly one of the greatest icons of your country and a very touching video. His original voice recordings as well as in remastered and remixed tracks still resonate today.

    Truly beautiful!

    In the current ‘Last Tango in Buenos Aires’ — I see your country protaginized by Marlon Brando and the IMF’s Krista Lina Georgieva as Maria Schneider in the ‘Last Tango in Paris’ as Brando's character uses butter as a lubricant before forcing himself on her.

    https://www.washingtonpost.com/arts-entertainment/2018/11/26/story-behind-filmmaker-bernardo-bertoluccis-last-public-controversy/

    (Forgive the pun — but it doesn’t END well for the IMF.)

    ¡SALUDOS CORDIALES!

    Feb 09th, 2021 - 06:18 pm +1
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