Selin ATAY-TDO- Argentina wants to sign a deal with the International Monetary Fund (IMF) to pay off its $ 44 billion debt.
Argentina's Economy Minister Martin Guzman gave an interview to the United States-based international daily finance and news. In his interview, Minister Guzman expressed that he desires to reduce the budget deficit from 8.5 percent to 6 percent of national income in 2020.
Argentina had signed the International Monetary Fund's largest loan deal of $ 57 billion in 2018, but the country failed to implement the program. Negotiations are being held by the Argentine government to restore the agreement signed with the IMF.
The IMF deal is vital for Argentina's economy, which has defaulted for the ninth time due to its public debt by 2020, to get back in order. Meanwhile, a report released by investment bank JP Morgan on Wednesday (January 27th) said it expected a deal to be signed towards the middle of the year. On the other hand, the report stressed that despite the deal, problems in the investment climate and exports in the country cannot be solved.