BUENOS AIRES (Reuters) – Argentine financial system minister Martin Guzman explained late on Friday that a $45 billion debt deal with the Global Monetary Fund will not be modified, subsequent a assembly with IMF head Kristalina Georgieva.
“We are not heading to transform the aims of the plan with the IMF,” Guzman explained to community media.
The South American country’s middle-left Peronist federal government led by President Alberto Fernandez struck a personnel-stage arrangement with the worldwide financial institution at the beginning of March to stay clear of a default.
The offer lays out a fresh plan of financing more than a 30-month time period to change a failed $57 billion plan from 2018 that the grains-manufacturing state was unable to pay back back after several years of recession, spiraling inflation and cash flight
Nonetheless, Guzman cautioned devoid of giving much more aspects that there will be a alter in emphasis to aim on the social security internet because of to the fallout from the Russian invasion of Ukraine which has triggered throughout the world inflation.
Argentina has lengthy suffered from very high inflation. Having said that, the war has elevated price tag surges in Argentina as effectively as a lot of Latin The usa. Argentina’s 2021 inflation strike previously mentioned 50%.
(Reporting by Maximilian Heath Modifying by Andrea Ricci)
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