Argentina seeks to eliminate IMF interest rate surcharges due to the COVID-19 pandemic and to move forward on "a refinancing" of a US$2.4 billion debt bond maturing this month with the Paris Club.
The South American nation must pay the IMF US$3.5 billion this year, another US$18 billion in 2022, and US$19 billion in 2023 as part of a US$57 billion program subscribed during the Mauricio Macri administration (2015-2019).
"The foreign debt we inherited, in the terms in which it is, is unpayable... The issue is not not to pay but that we can obtain an agreement that allows us to sustain our development and growth economic plan without forgetting that 40 percent of the population is poor," Fernandez said earlier this year.
The right-wing Popular Party wins in the Madrid Community Elections. A commentary by Juan Carlos Monedero. pic.twitter.com/XAIbQNLXWI