IMF calls Argentine debt 'unsustainable,' says bondholders must help resolve crisis

BUENOS AIRES - The International Monetary Fund warned Argentina’s bondholders on Wednesday that they would likely need to take a hit to help resolve the country’s “unsustainable” debt burden.

Argentina is battling to restructure its debts to avoid defaulting on around $100 billion in loans and bonds - including to the IMF - after a biting recession, high inflation and a market crash pummeled the country last year. He said that while the stance was not totally unexpected it was generally a negative for bondholders and implied potentially tougher negotiations. “It implies a longer period of restructuring and a longer period for returning to the market.”

The IMF said meetings with Argentine officials had been “very productive” and that the fund’s managing director, Kristalina Georgieva, would meet Guzman at the Group of 20 Finance Ministers summit to discuss “next steps.” “The worst-case scenario for bondholders would be for the IMF to issue a statement supporting a deep cut, or a cut in capital owed to bondholders,” Fernando Marrul, director of consultancy FM & Associates, said ahead of the fund’s statement.

We should invade and annex all of Latin America. The corrupt governments there are good for nothing. Also need to save the Amazon rain forest or all life on earth dies in a couple of years

They want that oil, they’ll do anything for it

Argentyna na cenzurowanym,znów

Yeah of course they do...now P.I.G is next

Hasn’t it been a basket case economically for decades?

Look what a great job the IMF did with Greece and it's austerity drive. Nothing to worry about Argentina. Honest.

And so thats why the Falklands are back in the news to deflect their financial crisis.

Nonsense. More government spending is always the answer!

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