COP26: Argentina wants to link IMF debt to environmental investment

RIO DE JANEIRO, BRAZIL – Argentina, one of the world’s most prominent defaulters, is pushing for a new form of debt service: instead of paying creditors with money that is missing in Buenos Aires, it wants them to recognize the country’s efforts to combat climate change, reports Bloomberg news agency.

“We need more flexibility to honor this debt,” President Alberto Fernández said during the United Nations Climate Change Conference (COP26) about the roughly US$46 billion Argentina owes the International Monetary Fund (IMF).

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The climate talks in Glasgow, Scotland, are expected to discuss how rich countries can help poorer ones, like Argentina, make the expensive transition to a cleaner energy matrix.

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