The Paris Club wants guarantees that Argentina will respect the IMF to renegotiate the debt

The Paris Club wants Argentina to guarantee compliance with a 44 billion dollar program with the International Monetary Fund to continue conversations tending to restructure its debt with this group of creditors.

Argentina postponed a meeting to be held Wednesday with club officials following the resignation of Economy Minister Martín Guzmán, amid a power struggle within the government.

Guzmán’s departure, who was instrumental in avoiding a harmful default with the club last year, raised fears that Argentina does not respect the IMF program.

“We hope that first a new Minister of Economy will reaffirm his commitment to program implementationwhich is a key condition for reaching an agreement, “a senior Paris Club official told reporters on a conference call Thursday. The official asked not to be identified under the group’s policy.

With these guarantees, the Club is more than ready to continue meeting with Argentina to negotiate the 2014 deal, the official added.

Last year, the Paris Club saved Argentina from insolvency after Guzmán promised to pay $ 430 million while renegotiating the rest of the debt. the country had another breath in Maywhen he agreed with the club to postpone for more than two years $ 2,000 million in debt payment.

Guzmán was supposed to travel to France before a meeting on 6 July to continue negotiations.

Now his successor, Silvina Batakis, will have to convince them that the agreement with the IMF is still valid, according to what he announced in his first public appearances.

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