The economic team of the new Argentine government met with a representative of the Fund to try to advance the loan transfer
Argentina's Minister of Economy, Luís Caputo, and the Minister of the Civil House, Nicolás Posse, met with IMF emissaries this Monday (8 January 2024) in the offices of Casa Rosada, headquarters of the Argentine government.
The objective of the meeting was to renegotiate the conditions for paying the country's debts for the 7th time. The results of the negotiations will be announced together after the end of the IMF envoys' visit to Argentina, on Wednesday (10 January). Newspaper information Clarin.
Representing the International Monetary Fund in the negotiations, the deputy director of the Fund's Western Hemisphere Department, Luis Cubeddu, and the head of mission for Argentina, Ashvin Ahuja, were present. The next few days will involve talks on new agreements to repay the US$44 billion loan made by Argentina with the IMF in 2018.
The agreement reached between the IMF and the government of Alberto Fernández allowed the rollover of the debt contracted by the country in 2018, during the administration of Mauricio Macri. The 2022 commitment provides for debt payments to begin only in 2026.
Currently, the reserves of the Central Bank of Argentina are negative –that is, they do not have the necessary funds to pay their debts. Argentina has fiscal deficits and monetary problems. If the renegotiations are successful, the government expects the release of around US$3.3 billion that has been held by the IMF since November.
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