Argentina Gets France's Support In Debt Renegotiation With IMF

Argentina's President Alberto Fernandez on Wednesday summed up France's support for the renegotiation of his country's debt with the International Monetary Fund (IMF) and the Paris Club.

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"I hope Argentina will soon reach a deal to stabilize its economy. I am aware of its government's efforts to reach an agreement. We are on your side," France's President Emmanuel Macron said during Fernandez's official visit to Paris.

"I am happy to receive Fernandez for the second time. I am glad that we can continue our friendly exchanges," he added.

The meeting took place as part of Fernandez's international tour that began on Monday. Before reaching France, he traveled to Portugal and Spain. 

On May 13, the Argentine President will travel to Italy and the Vatican to continue rallying support for the debt rescheduling.

"I want to thank France for its support and accompaniment in the negotiations with private creditors, the IMF, and the Paris Club. I have enormous expectations in channeling our relations on climate change and gender equality issues," Fernandez said.

He also held a meeting with eight French businessmen who are already investing in Argentina, which is experiencing an economic crisis exacerbated by the pandemic.

Fernandez is seeking international backing to reset the US$45 billion debt that his country acquired during Mauricio Macri's administration (2015-2019).