Argentina lawmakers pass IMF refinancing deal amid protests
2 years, 9 months ago

Argentina lawmakers pass IMF refinancing deal amid protests

Associated Press  

BUENOS AIRES — Argentine lawmakers on Friday approved an agreement with the International Monetary Fund to refinance a $45 billion debt, a vote meant to avoid economic turmoil but that divided the governing party. Argentina assumed the debt in 2018 during the government of conservative President Mauricio Macri, but it failed to fully crush inflation or solve the country’s economic problems. The current left-of-center government said the refinancing agreement reached with the IMF last week was essential to avoid a default on the loans and even greater problems for an economy scarred by repeated past defaults and crises. Leftist forces, including some members of the governing party close to Vice President Cristina Fernandez, argued that some of the measure would worsen conditions for the 40% of Argentina’s people who are poor.

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History of this topic

Argentina will get next installment of bailout as IMF praises Milei’s austerity policies
7 months, 1 week ago

Argentina will get next installment of bailout as IMF praises Milei’s austerity policies

Associated Press  

BUENOS AIRES, Argentina — The International Monetary Fund, Argentina’s biggest creditor, agreed Monday to release the next tranche of loans due under a bailout program, endorsing government austerity measures so severe they even surpass the terms of its $43 billion loan. The IMF deal follows the completion of its review of Argentina’s compliance record and confirms the next $792 million …

IMF unlocks $4.7bn for Argentina amid economic crisis, Milei austerity cuts
11 months, 2 weeks ago

IMF unlocks $4.7bn for Argentina amid economic crisis, Milei austerity cuts

Al Jazeera  

Inflation has crossed 160 percent in Latin America’s third-biggest economy, with 40 percent of population living in poverty. Latin America’s third-biggest economy is facing dire economic challenges after decades of debt and financial mismanagement, with inflation surpassing 160 percent year-on-year and 40 percent of Argentinians living in poverty. With this deal, Argentina’s new President Javier Milei, who took power in …

IMF agrees to release $7.5 billion to cash-strapped Argentina as its economy reels from drought
1 year, 4 months ago

IMF agrees to release $7.5 billion to cash-strapped Argentina as its economy reels from drought

Associated Press  

BUENOS AIRES, Argentina — The International Monetary Fund said Friday that it reached an agreement with Argentina that would open the door for the cash-strapped South American country to receive $7.5 billion over the next few months as part of an existing program. With the terms announced Friday, the IMF seeks “to support Argentina’s policy efforts and near-term balance of …

Argentina’s debt deal with IMF gets final legislative OK
2 years, 9 months ago

Argentina’s debt deal with IMF gets final legislative OK

Associated Press  

BUENOS AIRES, Argentina — Argentina’s Senate gave final legislative approval Thursday for President Alberto Fernández’s administration to refinance the government’s $45 billion debt with the International Monetary Fund and avoid a default. While the approval helps the South American country avoid another default and economic turmoil, it may have created an insurmountable fracture between Fernández and his powerful vice president, …

Argentina’s Senate approves IMF deal, avoiding default
2 years, 9 months ago

Argentina’s Senate approves IMF deal, avoiding default

Al Jazeera  

Buenos Aires, Argentina — Behind a wall of steel barricades erected to keep protesters at a distance, the Senate of Argentina approved a deal to refinance the country’s huge loan with the International Monetary Fund and avoid a default. Speaking to the Senate this week, economy minister Martin Guzman said the new deal allows the country to avoid “a profound …

Argentina lawmakers take up contentious IMF refinancing deal
2 years, 9 months ago

Argentina lawmakers take up contentious IMF refinancing deal

Associated Press  

BUENOS AIRES — Lawmakers on Thursday began debating legislation needed to approve Argentina’s agreement with the International Monetary Fund on refinancing a $45 billion debt, while protesters opposed to the deal clashed with police outside the Congress building. There has been widespread criticism of the agreement on refinancing debt taken on by Argentina in 2018 during the government of conservative …

Argentina reaches prospective deal to refinance $45B debt
2 years, 9 months ago

Argentina reaches prospective deal to refinance $45B debt

Associated Press  

BUENOS AIRES — Argentina’s government announced Thursday that it reached a deal with the International Monetary Fund to refinance some $45 billion in debt, marking an attempt to stave off default and remove economic uncertainty that has hung over the country during two years of negotiations. The deal would allow Argentina to begin repaying its debt starting in 2026, and …

‘Headed for disaster’: Argentinians protest against IMF debt deal
3 years ago

‘Headed for disaster’: Argentinians protest against IMF debt deal

Al Jazeera  

Thousands gathered in Buenos Aires to protest against government’s bid to renegotiate its debts to the IMF. The protesters thronged Buenos Aires’s Plaza de Mayo on Saturday, carrying placards that read “No to a deal with the IMF” as colourful banners of the country’s largest social and left-wing organizations rippled under the beating sun and anti-IMF slogans roared on the …

Argentina strikes $65-bn debt agreement after restructuring breakthrough
4 years, 4 months ago

Argentina strikes $65-bn debt agreement after restructuring breakthrough

Live Mint  

Argentina said on Tuesday it had reached a deal with three creditor groups to restructure $65 billion in sovereign debt, a breakthrough in the talks will help the country climb out of a damaging default and revive its recession-hit economy. The Economy Ministry said in a statement https://www.argentina.gob.ar/sites/default/files/press_release_roa_2.pdf it would adjust some payment dates and legal clauses to sweeten what …

Argentina reaches deal with creditors to restructure $65bn debt
4 years, 4 months ago

Argentina reaches deal with creditors to restructure $65bn debt

Al Jazeera  

Argentina has said it reached a deal with three creditor groups to restructure $65bn in sovereign debt, potentially helping it climb out of a damaging default and revive the recession-hit economy. “Today have reached an agreement that will allow members of the creditor groups and such other holders to support Argentina’s debt restructuring proposal and grant Argentina significant debt relief,” …

Argentina readies final debt restructuring offer to creditors
4 years, 5 months ago

Argentina readies final debt restructuring offer to creditors

Al Jazeera  

The government will send its new offer to the US Securities and Exchange Commission in the coming days, Reuters reports. Argentina’s government is reading a final debt restructuring offer to creditors which could be formally sent to United States regulators within days, a government source told Reuters News Agency on Friday, even as increasingly splintered bondholders tabled another proposal of …

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