Argentina asks IMF to restructure debt payments

Argentina asked the International Monetary Fund to restructure its debt payments on the $56 billion bail-out loan agreed last year, said Finance Minister Hernan Lacunza. (File photo: AFP)

Argentina asked the International Monetary Fund to restructure its debt payments on the $56 billion bail-out loan agreed last year in a bid to calm market turbulence, Finance Minister Hernan Lacunza said Wednesday.

Recession-hit Argentina has suffered market volatility since business-friendly President Mauricio Macri was trounced in party primaries three weeks ago by leftist challenger Alberto Fernandez.

Debt repayments are due to begin in 2021.

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Last Update: Wednesday, 20 May 2020 KSA 10:00 - GMT 07:00
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