The country needs to restructure its sovereign debt, which total amount has reached $ 100 billion.
Vice-President of Argentina, Cristina Fernandez de Kirchner said that the government can’t pay its debts to the International Monetary Fund until the economy is out of recession.
“In a recession no one will pay a cent, and the path out of the recession – the large public investments”, – quotes its words Reuters.
Argentina needs to restructure sovereign debt, which total amount has reached $ 100 billion. It includes a credit line of 57 billion dollars which the IMF has extended to Argentina in 2018.
Relationship with the Fund is very important for Buenos Aires – it can help the country avoid default on the background of the collapse of the currency, rising inflation and reduce the economy. It is expected that the IMF technical mission will arrive in Argentina next week.
Note in its history, Argentina has defaulted several times. Announced in 2001 debt default on $ 100 billion was one of the largest in the history of world markets.