According to the Fernandez administration, debt service will occur once Argentina has reached fiscal balance, increased its monetary reserves, and lower the exchange rate.
Argentina's President Alberto Fernandez announced the preparation of the “Multi-year Economic Program for Sustainable Development” (MEPSD) bill, a fiscal policy instrument that will include new payment conditions for the International Monetary Fund (IMF) loans contracted by President Mauricio Macri (2015 -2019).
“The program contemplates the results of the negotiations between our government and the IMF, which did not renounce to the principles of economic growth and social inclusion,” Fernandez said and announced that his bill will be presented to Congress in December.
Although not all the details of the program have been made public, it is known that his administration hopes to reach an agreement with the IMF to begin paying the multilateral debt by 2026.
Debt service will occur once Argentina has reached fiscal balance, increased its monetary reserves, and lower the exchange rate.
To achieve all this, Fernandez must reach a broad consensus within Congress, where opposition parties such as "Together for Change" have numerous lawmakers. His multi-year economic program, however, is already supported by the “Front for All” party, the Lower House President Sergio Massa, and Vice President Cristina Fernandez.
The debt operations carried out by former President Macri, which have been disastrous for the Argentine economy, are plagued with illegalities and irregularities.
As a result of his actions, Argentina suffered an unprecedented capital flight that left this South American country without means of payment.