Economy

Argentina officials meet investors in New York after IMF talks

Argentina and the IMF have been negotiating for months over a loan program to replace one agreed in 2018

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. Photo: Reuters/Yuri Gripas.File Photo
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  • Argentina has restructured about $65 billion in debt with international private creditors;
  • The South American country is struggling with high inflation that exceeds 52% per year.

Argentine government officials, including Finance Minister Martín Guzmán, met with private investors on Friday in New York, the country’s government said.

Guzman was accompanied by Argentina‘s chief of staff, Juan Manzur, and Argentina‘s ambassador to the United States, Jorge Arguello.

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The meeting comes after Guzmán met this week with International Monetary Fund chief Kristalina Georgieva and the two agreed to continue working on developing a credible IMF lending program.

Argentina and the IMF have been negotiating for months over a loan program to replace one agreed in 2018, which failed and left the South American country as the IMF’s largest borrower, with debt close to $45 billion.

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Argentina restructured about $65 billion in debt with international private creditors last year, but the restructured bonds are trading at stressed levels as investors worry about the soy-exporting country’s economic prospects.

The South American country is struggling with high inflation that exceeds 52 percent a year.

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