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Argentine president-elect refuses to receive missing IMF loan

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Argentine president-elect refuses to receive missing IMF loan

Argentine President-elect Alberto Fernandez has announced that he does not want the missing 11 billion of the total loan of $ 57 billion (51 billion euros) granted in 2018 by the International Monetary Fund. "What I want is to leave to ask and let me pay, "said Fernandez, who takes office on December 10." I have a big problem and I'm going to ask for another 11 billion, "Fernandez said in an interview with local broadcaster Con Vos. , referring to the serious economic crisis affecting Argentina.

Alberto Fernandez (left-wing Peronist), who will succeed Mauricio Macri (center-right) as president, said his goal is to "relaunch the economy so that it can pay and solve the debt problem with common sense."

In December, the IMF suspended a disbursement of $ 5.4 billion (about 4.9 billion euros at the current exchange rate), after the Macri government failed to meet certain targets, including those for to inflation.

Inflation is expected to reach 50% by the end of the year, according to several international organizations.

The Argentine economy has been in recession for 20 months and President Macri has had to announce a renegotiation of debt securities in the local market.

According to the IMF, Argentina's economic activity is expected to contract by 3.1% this year.

. (tagsToTranslate) International Monetary Fund (t) Alberto Fernandez (t) Argentina (t) IMF (t) policy


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