Fernandez: Argentina needs a definition of its debt soon

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Argentina needs to get to define how it will face its debt of about 335,000 million dollars, said the president, Alberto Fernandez, a day before the Minister of Economy, Martin Guzman, begins meetings with creditors in the United States.

“We need a fairly fast definition on the issue of debt. Martin (Guzman) has traveled to New York and has an agenda,” the president said in an interview this Sunday with C5N television.

“The idea is that they give us the opportunity to grow, to be able to export and collect dollars to be able to pay,” he said.

The renegotiation of the Argentine debt is a priority for Fernandez, who gave up receiving the last tranches of a loan agreed with the International Monetary Fund in 2018, during the government of his predecessor, the liberal Mauricio Macri.

From a total amount of 57,000 million dollars, Argentina received 44,000 million from the IMF.

“An indebted country loses decision capacity, loses sovereignty,” said Fernandez, a center-left Peronist.

However, the president did not want to give details of the proposal that Argentina takes to its creditors.

“We are facing a negotiation. Any statement can lend itself to undue expectations,” he said.

Fernandez has just returned from Israel, his first trip abroad as president, and at the end of the month he will tour Europe.

On January 31, he will meet Pope Francis, also Argentine, in the Vatican, and with the president of Italy, Sergio Mattarella.

On February 1 he will meet with the German Chancellor, Angela Merkel, on the 4th with the president of the Spanish government, Pedro Sanchez, and on the 5th with the French president, Emmanuel Macron, as he himself detailed.

“We don’t want to be out of the world. (…) We are a country that needs the help of the world and we say that to the leaders of the world,” he said.

Argentina has been in recession since mid-2018, with one of the highest inflation rates in the world (53.8% in 2019) and poverty near 40%.

The debt is equivalent to about 90% of your Gross Domestic Product.



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https://www.infobae.com/america/agencias/2020/01/27/fernandez-argentina-necesita-pronto-una-definicion-sobre-su-deuda/

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