The International Monetary Fund (IMF) and the government of Argentina will resume talks in Washington next week on the IMF's support program for the country, spokesperson Gerry Rice said during the press briefing on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 27th February, 2020) The International Monetary Fund (IMF) and the government of Argentina will resume talks in Washington next week on the IMF's support program for the country, spokesperson Gerry Rice said during the press briefing on Thursday.
"Finance Minister Martin Guzman and his team coming to Washington on Monday for further staff discussions," Rice told reporters.
Rice characterized the ongoing discussions as being very constructive and noted the IMF expects such constructive engagement to continue in the coming days.
Last week, the IMF assessed that Argentina's debt is unsustainable as a result of the depreciation of the country's Currency, the contraction of real GDP and other financial risks.
The IMF approved in June 2018 a $50 billion stand-by loan to Argentina and later that year agreed to increase the loan to $56.3 billion.
Under the administration of former President Mauricio Macri, Argentina received $44 billion of the IMF loan. The new president, Alberto Fernandez, said that his government would not take the rest of the loan and would review the repayment schedule.
