(Buenos Aires) Argentina repaid on Friday to the International Monetary Fund (IMF) a deadline of more than 1.2 billion dollars, on its total debt of 44 billion contracted in 2018 and restructured in March, announced the Argentine ministry of Economy.
Posted yesterday at 5:30 p.m.
This repayment of 1.286 billion dollars in capital was made possible thanks to the disbursement of 4 billion dollars that Argentina received from the IMF two weeks ago after an initial review of the refinancing program concluded with the financial institution.
The government of center-left President Alberto Fernandez also announced on Friday the payment of $425.6 million in interest to holders of Treasury bonds issued under foreign law. This $66 billion debt had been refinanced with creditors in 2020.
Argentina is emerging from a week of market uncertainty following the surprise resignation of Economy Minister Martin Guzman on Saturday.
The policy of Mr. Guzman, craftsman of the renegotiations of the Argentine debt, was regularly questioned by the left wing of the government coalition.
The new holder of the portfolio, Silvina Batakis, had a first meeting on Wednesday with the managing director of the IMF Kristalina Georgieva, who described this contact as “very good”.
The agreement between Argentina and the IMF provides for a series of macroeconomic measures to control the country’s chronic inflation (60.7% over the last twelve months) and reduce its budget deficit (3% of GDP in 2021) until equilibrium in 2025.
After three years of recession, the country has returned to growth, with +10% in 2021 and +6% over the last 12 months.
In the first quarter of 2022, Argentina’s total debt stood at $376 billion, or 80% of GDP, according to official figures.