“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.2 comments
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.
The International Monetary Fund (IMF) Executive Board met on Wednesday in an informal session to discuss a request from the Chilean authorities for a two-year arrangement under the Flexible Credit Line (FCL) with the IMF in an amount equivalent to SDR 17.443 billion (about US$23.8 billion or 1,000 percent of quota).
Argentine bonds jumped on Tuesday as the country’s government and creditors sought to strike a deal to restructure US$ 65 billion in foreign debt by May 22 after an initial deadline passed last week without a pact.
IMF Managing Director Ms. Kristalina Georgieva announced that the Executive Board approved immediate debt service relief to 25 of the IMF’s member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic.
The International Monetary Fund sees the world economy suffering its worst recession since the Great Depression this year, with emerging markets and low-income nations in Africa, Latin America and Asia at particularly high risk.
The World Bank Group and International Monetary Fund have issued the following joint statement to the G20 concerning debt relief for the poorest countries:
At the request of the Argentine authorities and reflecting close collaboration with them, the International Monetary Fund (IMF) released on Friday a technical note prepared by IMF staff on Argentina’s public debt sustainability.