The country wants to reach an agreement that will ease the accumulation of maturities in the next three years.
Argentina will continue to pay the International Monetary Fund (IMF) the loan it received in 2018, but wants to reach an agreement that will ease the accumulation of maturities in the next three years, government spokeswoman Gabriela Cerruti declared on Thursday.
“We want to reach an agreement, we want to pay the maturities, what we cannot do is do it in the way in which they were scheduled for 2022,” Cerruti said a day after Argentina made the last payment to the IMF scheduled for 2021, a capital amortization of about $ 1.9 billion.
“Yesterday (Wednesday) the payment was made. It is one more sign that Argentina is making progress in what was proposed, which is to reach a sustainable agreement ”with the Monetary Fund, added the official.
This payment was made on the same day that the IMF released a loan evaluation report, in which the international organization determined that the program with Argentina “did not meet the objectives of restoring confidence in fiscal and external viability and , at the same time, promote economic growth “.
The IMF granted Argentina a loan for $ 57,000 million in 2018, during the government of Mauricio Macri, but the country only received $ 44,000 million because the current president Alberto Fernández renounced the pending tranches when he took office in December 2019.
Argentina negotiates with the IMF an extended facilities agreement that allows it to defer the burden of the expected maturities so far: about $ 19 billion dollars and the same in 2023, in addition to about $ 5 billion in 2024.
Despite not having access to international markets and the bulk of the next expected payments, Cerruti emphasized that Argentina “does not have problems with international reserves.”
“The Central Bank does not have reserve problems. You are working to the best of your ability to meet all commitments. The reserves are under control and do not cause any kind of unease to the government, “he said.
After the payment on Wednesday, Argentina’s total reserves were about $ 39,000 million, and economic analysts have warned that the liquid that the country could have is less than $ 5,000 million. (I)
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