March 20, 2020 / 6:11 PM / 20 days ago

Argentine needs "substantial" debt relief; no scope for bond servicing in medium term - IMF

BUENOS AIRES, March 20 (Reuters) - Argentina will need substantial relief from private creditors in its debt restructuring and there is “virtually no scope” for FX service payments to private creditors over the near-to-medium term, the IMF said on Friday.

The International Monetary Fund said in a staff report that it envisaged Argentina with a primary fiscal surplus of 0.8% of GDP by 2023, rising to about 1.3% over the longer-term.

However, it said that a key near-term risk related to stronger negative impact of the current global coronavirus pandemic, which could hit Argentina more than currently assumed.

IMF head Kristalina Georgieva said in a statement that Argentina would need “substantial debt relief” from private creditors to restore debt sustainability.

Reporting by Eliana Raszewski; writing by Cassandra Garrison and Adam Jourdan

Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below