IMF Director talks with Argentina about an orderly debt solution



The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, spoke today with Argentine Economy Minister Martín Guzmán in Riyadh about the government's plans to find an orderly solution to the debt problem.

"Minister Guzmán and I had a fruitful exchange of views on the country's challenges and the way to ensure more sustainable and inclusive growth in Argentina," Georgieva said, according to a statement released by the IMF.

Georgieva, who met with Guzmán in Riyadh, where they both participate in the meeting of Economy Ministers and governors of central banks of the G20, highlighted the efforts of the Government of Alberto Fernández to stabilize the economy and reduce poverty.

"We also talked about the authorities' plans to ensure a sustainable and orderly resolution of Argentina's debt situation," he said.

The director of the multilateral credit mechanism also praised the commitment to increase collaboration and move towards a plan supported by the Fund.

“As I said from the beginning, our commitment and focus is with Argentina and its people. We want to see the Argentine economy recover in a lasting way, reduced poverty and prosperous Argentines, "he said.

The IMF concluded on Wednesday its first visit to Argentina since the assumption of Alberto Fernández and endorsed the Government's analysis that the country's debt "is not sustainable", while requesting a "contribution" to private creditors.

According to the Argentine Ministry of Finance, at the end of December Argentina's gross debt amounted to 323,177 million dollars, of which some 194,000 million correspond to debt in public titles in the medium and long term.

The Argentine Government aims to conclude the process of renegotiating its external debt at the end of March, a period considered too ambitious for analysts, especially after the province of Buenos Aires could not postpone the payment of a 250-month bond for three months. million dollars when not obtaining 75% of adhesion of the holders.

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