BUENOS AIRES: Argentina's government suffered an embarrassing defeat on Friday as its 2022 budget was rejected by parliament, with Economy Minister Martin Guzman insisting this would"affect" its debt renegotiations with the International Monetary Fund.
The proposed budget envisaged 2022 growth of four per cent, compared to around 10 per cent in 2021, and a relative controlling of inflation at 33 per cent, well below this year's 50 per cent. Having already been in the minority in the Chamber of Deputies, Fernandez's Frente de Todos coalition also lost control of the upper house Senate.
At the beginning of the week, Guzman said Argentina can"in no way amortize the repayments of around US$18 billion in 2022 and US$19 billion in 2023".
Source: Financial Digest (financialdigest.net)
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