Argentina wants IMF deal to pay $ 44 billion in debt later – Suriname Herald

Argentina wants to strike a deal with the International Monetary Fund (IMF) to later repay the IMF’s debt, which stands at $ 44 billion. Argentina’s Finance Minister Martín Guzmán said on Saturday The Wall Street Journal (WSJ).

In return for a relaxed payment, Argentina wants to reduce the budget deficit from 8.5% to 6% this year. However, the country refuses to implement extensive austerity measures, a measure that the IMF has often imposed on other countries in the past in return for aid.

By negotiating a payment agreement with the IMF, the Argentine government hopes to ease some pressure on the economy. In the minister’s plan, Argentina should have paid off the debt ten years later and around $ 5 billion is expected to be repaid to the IMF this year.

This is not the first time the South American country has struggled with high debt. Argentina went bankrupt for the ninth time in May last year. “We want to use the negotiations with the IMF to break with the way we have handled things in the past,” Guzmán said. WSJ.

It is ironic that Guzmán represents a political party that has spoken out against the IMF several times in the past. Guzmán’s party, for example, blamed the United Nations for the country’s dire economic situation.

NU.nl