International Monetary Fund (IMF) Director Kristalina Georgieva Wednesday admitted the rates Argentina is currently paying will be subject to review, at the request of the South American country.
Argentina's Economy Minister Martín Guzmán and International Monetary Fund (IMF) Managing Director Kristalina Georgieva, Tuesday met in Washington to discuss the renegotiation alternatives to the 2018 u$s 57 billion loans brokered by the administration of then-President Mauricio Macri.
The chief of the International Monetary Fund (IMF), Kristalina Georgieva said on Friday that the fund is working towards reaching an agreement on a new loan deal with Argentina and the next round of meetings will focus on the details. However, “'it takes two to tango' so both sides need to do our part and find the pathway to an agreement, and we are not yet at that point.”
The managing director of International Monetary Fund (IMF), Kristalina Georgieva, highlighted that “they are working constructively with Argentina” and ratified the commitment so that the country ”has clarity about its medium-term objectives.”
Sixty-two percent of the International Monetary Fund’s lending in response to the coronavirus pandemic has gone to 21 countries in hard-hit Latin America, IMF Managing Director Kristalina Georgieva said.
The election of Joe Biden as US president gives the International Monetary Fund (IMF) a chance to reset its relationship with its largest shareholder and make green initiatives a bigger part of its global economic recovery plan.
“Argentina faces very dramatic challenges, the country is in deep recession and social conditions are worsening”, was the response of IMF chief Kristalina Georgieva when asked about the difficult challenges faced by Argentina and if the current government has the political will and consensus to move forward with a plan to restore confidence.
Argentina's credit rating was lifted up from default 'SD' to 'CCC+' with a stable outlook after the country concluded restructuring its foreign currency debt, S&P Global Ratings said in a statement on Monday.
IMF Managing Director Kristalina Georgieva, spoke with Argentina President Alberto Fernández on Wednesday, when conversations for a new credit arrangement were launched. The Managing Director made the following statement at the conclusion of the meeting:
The technology companies that are reaping gains as a result of increased reliance on online systems during coronavirus quarantines and lockdowns should work to increase access to the digital economy for all, the head of the IMF said on Friday.