Argentina wants to strike a deal with the International Monetary Fund (IMF) to repay the International Monetary Fund’s US $ 44 billion debt. This is what Argentine Finance Minister Martin Guzman said on Saturday The Wall Street Journal (WSJ).
In exchange for the easy payment, Argentina would like to cut the budget deficit from 8.5 to 6 percent this year. However, the country is refusing to implement massive austerity measures, a measure that the International Monetary Fund has often imposed on other countries in the past in exchange for aid.
By negotiating payment arrangements with the International Monetary Fund, the Argentine government hopes to relieve some of the pressure on the economy. In the minister’s plan, Argentina should have repaid its debts after ten years and about $ 5 billion returned to the International Monetary Fund this year.
This is not the first time that the South American country suffers from high debt. Argentina went bankrupt for the ninth time in May of last year. “We want to use negotiations with the International Monetary Fund to abandon the way we have dealt with things in the past,” Guzman said. Wall Street Journal.
Ironically, Guzmán is a political party that has spoken out against the IMF several times in the past. Guzmán’s party, for example, blamed the United Nations for the country’s poor economic situation.
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