(Dpa)
Posted on: Sunday 8 November 2020 – 9:09 PM | Last update: Sunday, November 8, 2020 – 9:09 PM
Argentine Prime Minister Santiago Cafiero said that his country does not intend to implement austerity measures or similar measures by the International Monetary Fund.
Cafiero added that instead there is a need for creative solutions to “the problem left by the previous government,” according to Bloomberg News.
An International Monetary Fund mission is scheduled to arrive in Argentina for talks on November 10 on a new program to finance $ 44 billion in debt owed by Argentina.
Sergio Choudos, Director of the South America Department at the International Monetary Fund, said last month that the basis of the financing program that the Fund is negotiating with Argentina, which is merely refinancing the latter’s loans with the help of the Fund, “remains the same” but “it is possible to agree in the end on a slight increase in the size the program”.
He added that Argentina’s needs for any new program could be slightly larger than the current program. This is not the basic scenario, but it could happen.
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