Argentina will not modify $45 billion debt deal with IMF, finance minister says

FILE Photo – Demonstrators sit around the National Congress as the senate debates the government’s agreement with the Global Monetary Fund (IMF), in Buenos Aires, Argentina March 17, 2022. REUTERS/Agustin Marcarian

BUENOS AIRES, April 23 (Reuters) – Argentine economic system minister Martin Guzman explained late on Friday that a $45 billion debt deal with the Worldwide Financial Fund will not be modified, adhering to a meeting with IMF head Kristalina Georgieva.

“We are not going to alter the targets of the plan with the IMF,” Guzman told nearby media.

The South American country’s middle-left Peronist authorities led by President Alberto Fernandez struck a staff members-degree agreement with the intercontinental financial institution at the starting of March to stay clear of a default.

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The offer lays out a contemporary agenda of funding around a 30-month time period to substitute a failed $57 billion application from 2018 that the grains-making nation was not able to spend back again immediately after a long time of recession, spiraling inflation and capital flight

On the other hand, Guzman cautioned without offering more specifics that there will be a alter in emphasis to aim on the social basic safety net because of to the fallout from the Russian invasion of Ukraine which has triggered throughout the world inflation.

Argentina has lengthy experienced from really higher inflation. However, the war has elevated value surges in Argentina as very well as substantially of Latin The us. Argentina’s 2021 inflation strike above 50%.

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Reporting by Maximilian Heath Modifying by Andrea Ricci

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