{"id":61914,"date":"2020-02-13T14:34:57","date_gmt":"2020-02-13T06:34:57","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=61914"},"modified":"2020-02-13T14:34:59","modified_gmt":"2020-02-13T06:34:59","slug":"imf-due-in-argentina-for-debt-restructuring-talks","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=61914","title":{"rendered":"IMF due in Argentina for debt restructuring talks"},"content":{"rendered":"\n
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BUENOS AIRES, Feb 13 (NNN-AGENCIES) — Recession-hit Argentina opens talks this week with a team from the International Monetary Fund, seeking relief from what President Alberto Fernandez says is an unsustainable foreign debt.<\/p>\n\n\n\n

The government hopes to renegotiate US$195 billion of the country’s US$311 billion foreign debt – including a deeply unpopular US$44 billion bailout loan from the Washington-based IMF in 2018.<\/p>\n\n\n\n

Fernandez insists Argentina cannot meet debt payments without economic growth, hampered by inflation of more than 50 per cent, as well as mounting poverty and joblessness.<\/p>\n\n\n\n

Economy Minister Martin Guzman is also due to present his fiscal plan to Congress.<\/p>\n\n\n\n

Guzman has already met with the IMF, while Fernandez embarked on a European tour to drum up support for his proposals.<\/p>\n\n\n\n

So far, the IMF and the Argentine government have both spoken positively about their exchanges.<\/p>\n\n\n\n

When assuming power two months ago, Fernandez refused the US$13 billion of outstanding disbursements, bringing the total to US$44 billion.<\/p>\n\n\n\n

Fernandez’s government has until March\u00a031 to reach an agreement with its creditors before it will almost certainly be unable to meet its repayment obligations.<\/p>\n\n\n\n

Fernandez wants to avoid another devastating default like the one in 2001, when Argentina bailed on a US$100 billion debt.<\/p>\n\n\n\n

It is estimated that Argentina will need to fork out US$34.3 billion in repayments and interest in 2020.<\/p>\n\n\n\n

Argentina has proposed making its offer to creditors in mid-March.<\/p>\n\n\n\n

Argentina has yet to miss a debt payment but did postpone some bond repayments under Macri.<\/p>\n\n\n\n

On Tuesday, Buenos Aires postponed the payment of another bond that was to have come due later this week. — NNN-AGENCIES<\/p>\n","protected":false},"excerpt":{"rendered":"

BUENOS AIRES, Feb 13 (NNN-AGENCIES) — Recession-hit Argentina opens talks this week with a team from the International Monetary Fund, seeking relief from what President Alberto Fernandez says is an unsustainable foreign debt. The government hopes to renegotiate US$195 billion of the country’s US$311 billion foreign debt – including a deeply unpopular US$44 billion bailout loan […]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[208],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/61914"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61914"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/61914\/revisions"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61914"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}