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Argentina It will continue to pay the International Monetary Fund (IMF) the loan it received in 2018, but wants to reach an agreement that will alleviate the accumulation of maturities in the next three years, government spokeswoman Gabriela Cerruti declared on Thursday.
“We want to reach an agreement, we want to pay the maturities, what we cannot do is do it in the way in which they were programmed for 2022,” Cerruti said a day after Argentina made the last payment to the IMF scheduled for 2021, a capital write-off of about $ 1.9 billion.
“Yesterday (Wednesday) the payment was made. It is one more sign that Argentina is making progress in what was proposed, which is to reach a sustainable agreement” with the Monetary Fund, added the official.
This payment was made on the same day that the IMF released an evaluation report on the loan, in which the international organization determined that the program with Argentina “did not meet the objectives of restoring confidence in the fiscal viability and external and, at the same time, promote economic growth “.
The IMF granted Argentina a loan of 57,000 million dollars in 2018, during the government of Mauricio Macri, but the country only received 44,000 million because the current president Alberto Fernández renounced the pending tranches when he took office in December 2019.
Argentina negotiates with the IMF an agreement of extended facilities that allows it to postpone the burden of the expected maturities so far: about 19,000 million dollars in 2022 and the same in 2023, in addition to about 5,000 million in 2024.
Despite not having access to international markets and the bulk of the next planned payments, Cerruti emphasized that Argentina “It has no international reserve problems.”
“The central bank has no booking problems. You are working to the best of your ability to meet all commitments. The reserves are under control and do not cause any kind of unease to the government, “he said.
After Wednesday’s payment, Argentina’s total reserves stood at about $ 39 billion, and economic analysts have warned that the country’s liquid reserves are less than $ 5 billion.
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