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Deal With IMF Is Not Imminent, Dollar Bonds Fall

ARGENTINA
  • The tone from President Alberto Fernandez and Economy Minister Martin Guzman suggests that no deal with the IMF is imminent.
  • A good deal between Argentina and the IMF does not exist in absolute terms, but it does exist in relative terms, the country’s Minister of Economy Martin Guzman said at a conference with the country’s governors at the Bicentennial Museum.
  • Guzman said the economic plan proposed as part of a $40 billion debt renegotiation would derail the country’s recovery.
  • While Argentina and the IMF are “on the same page” on the level of foreign reserves needed to support the country, they disagree on how quickly the government must reduce its fiscal deficit, Guzman said Wednesday as he laid out his most detailed vision yet for negotiations with the Fund. (BBG)
  • “The odds are rising every day that they will not have a done deal by the time the March payment comes due,” says Arturo Porzecanski, an economics professor at American University in Washington. (BBG)
  • Latest: *Argentina Dollar Bonds Fall More Than 2% After Guzman Comments (BBG)
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