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Argentine Minister of Economy will begin tour of Europe in search of support to negotiate with IMF

BUENOS AIRES, Apr 10 (Reuters) – Argentine Economy Minister Martín Guzmán will begin a trip to Europe on Sunday in search of consensus for the negotiation that the southern country is currently holding with the International Monetary Fund (IMF) with the aim of restructure a multi-million dollar debt.

In the midst of the serious economic crisis that Argentina is going through, Guzmán will also hold talks regarding the debt that the country has with the Paris Club.

The government reported on Saturday that the minister will visit Germany, France, Italy and Spain, where he will meet with his economic ministers and other officials.

“The objective is to get the necessary support from IMF shareholders (especially G7 and G20) to finalize a program that will serve Argentina,” the Ministry of Economy said in a statement.

Argentina drags a prolonged stagflation that was aggravated since last year by the coronavirus pandemic.

In the midst of a crisis that left almost half of its population in poverty, the country achieved financial relief in 2020 by restructuring a sovereign debt close to 100 billion dollars. Argentina now intends to restructure a liability close to 44,000 million dollars with the IMF.

(Report by Nicolás Misculin)

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