MOSCOW (Pakistan Point News / Sputnik - 20th November, 2019) Argentine President-elect Alberto Fernandez has discussed with the head of the International Monetary Fund (IMF), Kristalina Georgieva, over the phone, the country's obligations to the IMF, Fernandez' press service said on Wednesday.
"We intend to propose a sustainable economic plan and a payment agreement that we can implement without further adjustments," Fernandez said, as quoted by his press service.
The president-elect, who will assume office on December 10, stressed that although Argentina was going through "tough times", it was capable of coming up with a plan for solving problems and paying off its debt owed to the IMF and other lenders.
Meanwhile, Georgieva expressed interest in the program of the new government, especially in Fernandez' "social pact" for reducing inflation, according to the presidential press service.
The IMF shares this goal and wants Argentina to get over the boom-and-bust cycle and ensure sustainable growth, she reportedly said.
The IMF revised its Argentina's 2019 GDP decrease forecast in mid-October, slashing it to 3.1 percent. The IMF also expects the Latin American country's economy to drop by another 1.3 percent next year.
As Argentina is currently facing deepening economical crisis, with the national Currency and the stock exchanges weakening dramatically, the government has announced launching negotiations with the IMF on reviewing the schedule of debt settlement.
The IMF approved a $50 billion standby loan to Argentina in late June 2018 and increased the size of the country's loan program to $56.3 billion in October of the same year.
