Tag: IMF

Monday, February 24th 2020 - 07:59 UTC
Argentina will allow IMF to inspect its accounts under Article IV consultations

Argentina agreed to start consultations with the International Monetary Fund that could lead to a new financing program, days after the global lender said the country’s debt situation had become “unsustainable”.
Thursday, February 20th 2020 - 08:55 UTC
Coronavirus “is our most pressing uncertainty...” for the global economy, admits IMF chief

In the best-case scenario, the economic hit from the epidemic in China will be short-lived, but it comes as the global economy remains fragile, IMF chief Kristalina Georgieva said on Wednesday.
Wednesday, February 19th 2020 - 06:45 UTC
IMF chief: we are rethinking our advice to emerging markets

We need to understand better how various policy options interact our goal is to provide country-specific advice on the appropriate mix of policies needed to preserve growth and financial stability
Tuesday, February 18th 2020 - 06:55 UTC
IMF chief denies any haircut on the Argentine loan; Alberto Fernandez questions the decision

The International Monetary Fund, as the lender of last resort, won’t offer a haircut on its Argentina loan after Vice President Cristina Fernandez de Kirchner called on the institution to take a loss.
Tuesday, February 18th 2020 - 06:32 UTC
FT: “Argentina needs a plan for investment-led growth”

The Financial Times dedicated on Monday an editorial to Argentina and its current strategy to avoid again defaulting by pressing on the IMF, and later on sovereign bondholders, for a significant haircut in its national debt approaching 90% of GDP. However, FT points out that “debt talks are unlikely to succeed without a strategy for economic revival”
Monday, February 17th 2020 - 08:35 UTC
IMF admits coronavirus epidemic could damage global economic growth

The coronavirus epidemic could damage global economic growth this year, the IMF head said on Sunday, but a sharp and rapid economic rebound could follow. “There may be a cut that we are still hoping would be in the 0.1 to 0.2 percentage space,” the managing director of the International Monetary Fund, Kristalina Georgieva, told the Global Women's Forum in Dubai.
Thursday, February 13th 2020 - 10:12 UTC
IMF mission begins talks in Argentina; Government presented his fiscal plan to Congress

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.
Wednesday, February 12th 2020 - 09:28 UTC
Challenging week for the Fernandez administration as the IMF mission arrives in Buenos Aires

A challenging week for the administration of Argentine president Alberto Fernandez and his foreign debt strategy. IMF negotiators land in Buenos Aires this Wednesday for their first mission since Fernandez took office in December. Before agreeing to any changes in the terms, negotiators will want to see Fernandez’s blueprint for tackling more than US$ 320 billion in total debt and for rescuing an economy that’s forecast to shrink for a third straight year.
Monday, February 10th 2020 - 08:56 UTC
Cristina Fernandez: Argentina will not pay “even half a cent” of its IMF debt until the country exits recession

Argentine Vice President Cristina Fernandez de Kirchner said on Saturday in Havana that the government will not pay “even half a cent” of its debt back to the International Monetary Fund before the country has exited recession.
Thursday, February 6th 2020 - 09:10 UTC
Argentine Senate grants full power to the Fernandez administration to restructure foreign debt

Argentina’s Senate voted in favor of a bill on Wednesday that grants power to the government of President Alberto Fernandez to handle a massive debt restructuring of bonds issued in foreign currency.