The Strategist

IMF refuses to write off Argentina's debt

02/18/2020 - 10:03

The International Monetary Fund, as a lender of last resort, cannot offer Argentina debt cancellation, said IMF Managing Director Kristalina Georgieva in response to the call of the country's vice president Cristina Fernandez de Kirchner to take such a step.

In an interview with Bloomberg, Georgieva said that the IMF continues to support the government of Alberto Fernandez in his attempts to restore the economic recovery in the country.

“Generally speaking, we are very loyal to the intentions of this government to stabilize the economy and return to growth,” Head of the fund said.

The IMF's technical mission works in Argentina until February 19. The country's debt to the fund is $ 44 billion.

The results of meetings of Argentine officials with representatives of the fund will be a key factor for larger negotiations with other creditors of the country in an attempt to avoid default on bonds, experts say.


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