International Monetary Fund (IMF) spokesperson Julie Kozack said today that the lender welcomed Argentina’s announcement for a debt swap as it is discussing “alternatives” to “strengthen” the country’s Fund-supported economic program. “On the issue of the debt exchange, what I can say is that we certainly welcome the authorities’ efforts to reduce rollover risks associated with domestic debt,” Kozack said today during a press briefing in Washington, DC. In March 2022, Argentina signed an agreement renegotiating the US$ 44 billion debt former President Mauricio Macri acquired in 2018. As per the current schedule, the IMF staff’s fifth review of the program, evaluating Argentina’s performance until March, is due on Friday. Like Kozack, the Economy Ministry also considers the drought to be a focal point in the program renegotiation, as it calculates that the drought slashed some US$18 billion in crop exports.

Source: Bueno Aires Herald June 08, 2023 21:09 UTC