These policy changes have put the economy on a stronger footing and corrected many of the most urgent macroeconomic imbalances. Interview with alejandro werner on the latest economic developments in latin america.
At the request of the argentine authorities and reflecting close collaboration with them the international monetary fund imf released today a technical note prepared by imf staff on argentina s public debt sustainability.
Argentina imf. The imf is willing to work with the new government. Since december 2019 alberto fernández was seeking to restructure its us 100 billion debt with private bondholders and us 45 billion borrowed by. Presidency of alberto fernández and debt terms restructuring.
The international monetary fund said on thursday it is evaluating argentina s federal budget proposal and enhanced foreign exchange controls as part of its discussions over a new program for the. The economy is rebounding. Argentina is experiencing a solid recovery from last year s recession and even in the face of.
Argentina s intention is to seek imf financing for the sole purpose of full repayment of the 44 billion that is still owed to the fund he said in a telephone interview. Argentina is the one country that owes the most money to the international monetary fund. The technical note sets out staff s views on a feasible macroeconomic framework.
Statement by imf managing director kristalina georgieva on argentina. Macri announced on may 8 that argentina would seek a loan from the international monetary fund imf. The imf often the target of angry protests in the streets of buenos aires has looked to soften its tone with argentina as the center left peronist government has restructured over 100 billion.
The dialogue is starting but the new government is taking a measured approach. In a letter to imf head kristalina georgieva on wednesday argentina s economy minister martin guzman and central bank chief miguel angel pesce requested formal talks that would lead to a new. It appears that as a next step the imf and argentina will soon hold an article iv review which would include a debt sustainability analysis and focus on a programme in the future.
In a wide ranging interview with alejandro werner the head of the imf s western hemisphere department we discuss the regional economic outlook report as well as the latest developments in argentina and ecuador. The government has unwound multiple distortions and made important progress in restoring integrity and transparency in public sector operations. Ironically argentina is arguably the one country home to a populous that hates the imf with a passion.
The loan was 57bn and the country pledged to reduce inflation and public spending.