IMF mission concludes visit to Argentina after dialogue in the framework of debt renegotiation: official source

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IMF mission concludes visit to Argentina after dialogue in the framework of debt renegotiation: official source




A protester holds a sign that reads "Out with the IMF" at the door of the Central Bank of Argentina, in Buenos Aires, during a recent protest against the presence of an IMF mission in the country


© Reuters / AGUSTIN MARCARIAN
A protester holds a sign that reads “Out with the IMF” at the door of the Central Bank of Argentina, in Buenos Aires, during a recent protest against the presence of an IMF mission in the country


BUENOS AIRES, Oct 11 (Reuters) – An International Monetary Fund (IMF) mission concluded a visit to Argentina on Sunday, where it held meetings with government officials to learn about plans after the South American country requested a new program with the agency. said an official source.

“Indeed, this first visit concluded,” the government source told Reuters on condition of anonymity.

The delegation began the dialogue last Tuesday, led by Julie Kozack, deputy director of the Western Hemisphere department, together with Luis Cubeddu, head of the mission for Argentina, and Trevor Alleyne, representative of the IMF in Argentina.

Argentina, which a few weeks ago completed a process of restructuring its debt with private creditors for more than 100,000 million dollars, is now seeking to renegotiate an agreement that former president Mauricio Macri signed with the IMF in 2018 and that involved disbursements of about 44,000 million dollars. Dollars.

“We are in the initial phase of discussing a program with the Fund. The current mission is exploratory,” said Sergio Chodos, IMF executive director for the Southern Cone and Argentine representative before the organization in an interview published this Sunday in the newspaper. Profile.

He added that “the final process passes through the viability of Argentina as a country that generates its own resources.”

Argentina is heading into its third year of economic recession with a high fiscal deficit, exacerbated by the coronavirus pandemic. The Government increased its public spending to finance social assistance plans for the most vulnerable sectors and to provide fiscal aid to companies.

Representatives of the IMF and the third largest economy in Latin America had already opened a virtual dialogue.

(Report by Jorge Otaola; Additional report by Jorge Iorio)

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