IMF vows not to put 'pressure' on Argentina over loan
TODAY 00:52
Kristalina Georgieva says IMF has "no intention of putting pressure on Argentina at this time," as negotiators from Fund arrive in Buenos Aires for talks.
Wednesday, October 7, 2020
Negotiators for the International Monetary Fund have arrived in Argentina intending to listen to the government’s plans and aren’t immediately requesting spending cuts, IMF Managing Director Kristalina Georgieva said Tuesday.
The Fund’s Julie Kozack and Luis Cubeddu landed in Buenos Aires to begin the first round of in-person, formal negotiations for Argentina’s new financing programme.
Argentina owes the IMF US$44 billion from a failed agreement given to the Mauricio Macri administration, which had to make unpopular spending cuts during an ongoing recession to comply with the deal. Amid the Covid-19 pandemic, the IMF won’t seek such austerity right now, Georgieva said.
The IMF chief said the Fund has "no intention of putting pressure on Argentina at this time" in an interview with CNN's Spanish-language arm.
More:
https://www.batimes.com.ar/news/economy/imf-vows-not-to-put-pressure-on-argentina-over-loan.phtml