This morning, the International Monetary Fund (IMF) backed Argentina’s improved supply to creditors of the debt under foreign legislation, which lasts until August 4.
Gerry Rice, a spokesman for the international body, referred to the Argentine government’s presentation to the US SEC, stating that it is “an important step in the debt restructuring process with its private creditors.”
“We expect all parties involved to continue to work constructively and timely with the goal of reaching an agreement that puts public debt on a sustainable path and lays the foundations for inclusive and lasting growth in the future,” Rice said.
The IMF has been monitoring talks between the Argentine government and its private creditors since the start of negotiations, and has always stressed that the restructuring process is a bilateral issue between the state and the bondholders.
Despite this, on several occasions the Fund supported Argentina’s stance on debt renegotiation in order to make it sustainable. In addition, it awaits a solution to start discussing with Argentina about the stand-by program for us$57 billion that has been in place since 2018, during the Government of Mauricio Macri.
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