Argentina's government has said it needs to restructure $100 billion in debt, including $44 billion to the IMF.
and resulted in millions of middle-class citizens falling into poverty — a consequence many in Argentina blame on the fiscal policies enforced by the IMF at the time.
The risk of the country registering another sovereign debt default — it's ninth — had increased in recent weeks, Blanco said, citing a growing lack of policy cohesion within the coalition and a shortening timeframe to secure strong political backing.The government's timeline 'looks optimistic' The administration has vowed to refuse to agree to the kind of budget cuts the IMF usually insists on for crisis-hit countries, but it is also desperate to restructure commitments with its single biggest creditor. Further to this, Argentina's government is anxious to receive the green light from the fund to pursue a renegotiation with private bondholders.Meanwhile, the IMF has underscored its reluctance to accept a loss on its biggest-ever bailout package.
International Monetary Fund Managing Director Kristalina Georgieva speaks during the Global Women's Forum in the Gulf emirate of Dubai on February 16, 2020.Her comments followed remarks by Argentina's de Kirchner, who had previously called on the fund to write-down a substantial amount of its record deal.
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