Argentina reaches agreement with the International Monetary Fund

RIO DE JANEIRO, BRAZIL – Argentine President Alberto Fernández announced Friday that his government has reached an agreement with the International Monetary Fund (IMF) to restructure more than US$40 billion in debt the country owes the international lending organization in the ongoing financial crisis.

“I want to announce that the Argentine government has reached an agreement with the International Monetary Fund. This is an act of responsibility. We had a problem, and now we have a solution, we had a noose around our necks, a sword of Damocles, and now we have a way to go,” Fernandez said in a recorded message broadcast from Casa Rosada.

Hemos llegado a un acuerdo con el Fondo Monetario Internacional.

Teníamos una deuda impagable que nos dejaba sin presente ni futuro y ahora tenemos un acuerdo razonable que nos va a permitir llevar adelante nuestras políticas de crecimiento, desarrollo y justicia social. pic.twitter.com/vTCBTSfF0d

— Alberto Fernández (@alferdez) January 28, 2022

“Without an agreement, we had no horizon for the future; with this agreement, we can order the present and build a future. Compared to previous agreements that Argentina has signed, and this should not be forgotten, this agreement does not impose restrictions that postpone our development; it does not restrict, limit or impose conditions on the rights of our pensioners that we recovered in 2020,” he continued.