BUENOS AIRES, Argentina — Argentina has been here before: recession, growing poverty, high inflation, billions of dollars in debt, a looming deadline for repayment and simmering anger toward the International Monetary Fund. This is a big week for one of Latin America's biggest economies, which is hosting an IMF team for talks on restructuring $44 billion in debt owed to the lender. All involved are anxious to avoid a replay of 2001, when Argentina defaulted on about $100 billion in debt during the worst economic crisis — and there have been many — in its history. Once again, Argentina doesn't have the cash to pay creditors, and is desperate for relief from its total debt burden, also valued at around $100 billion. It's a balance for President Alberto Fernández, who seeks a deal with the IMF that does not alienate his leftist base, as represented by his deputy and former president, Cristina Fernández de Kirchner.

Source: International New York Times February 12, 2020 20:03 UTC