Argentina, International Monetary Fund, Mauricio Macri, Alberto Fernandez

Argentina, International Monetary Fund

Argentina´s Fernandez says country will struggle to repay IMF loan

Argentina´s Fernandez says country will struggle to repay IMF loan

18.8.2019

Argentina ´s Fernandez says country will struggle to repay IMF loan

Argentina under President Mauricio Macri signed a stand-by agreement with the IMF in mid-2018 for $57 billion, pledging in return to implement a significant fiscal adjustment, a pact Fernandez described as 'harmful.'

Argentina under Macri signed a stand-by agreement with the IMF in mid-2018 for $57 billion, pledging in return to implement a significant fiscal adjustment, a pact Fernandez described as “harmful.”

Argentine markets collapsed in the week after Fernandez, who has former center-left ex-president Cristina Fernandez de Kirchner as his running mate, came in around 15 points ahead of Macri in the primaries, a result that leaves him in a strong position to win the October election without a second round.

Fernandez, who during the campaign said that the dollar was being held at a “fictitious” value, urged Macri in the Clarin interview to heed the call of the central bank to safeguard its international reserves.

“If I finish my term and have inflation down to a single digit, I will be very happy. That’s four years of hard work,” he said.

Read more: Eyewitness News

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18 August 2019, Sunday News

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