Argentina's economy minister heads to Europe to woo finance officials over debts



© Reuters. Argentina’s Economy Minister Martin Guzman poses for a picture before an interview with Reuters at the Economy Ministry, in Buenos Aires

By Nicolás Misculin

BUENOS AIRES (Reuters) – Argentine Economy Minister Martin Guzman will travel to Europe on Sunday to build support among G7 and G40 nations for a renegotiation of its multibillion-dollar debts to the International Monetary Fund (IMF) and the Paris Club group of creditor nations.

Guzman will travel to Germany, France, Italy and Spain, where he will meet his counterparts and other officials to outline Argentina’s restructuring plans during a five-day trip.

“The objective is to get the necessary support from IMF shareholders (especially G7 and G20) to finalize a program that will serve Argentina,” the Ministry of Economy said in a statement.

The government of center-left President Alberto Fernandez is scrambling to renegotiate the roughly $45 billion the country owes to the IMF.

The coronavirus crisis has ravaged the top grains producer’s already ailing economy, complicating efforts to make good on its obligations.

Argentina also faces the maturity of $2.4 billion in debt it owes to the Paris Club, whose members include the countries he is visiting.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Here's how much your electricity bill will cost on average in every state

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here