Latin America Advisor
On April 7, The Inter-American Dialogue’s daily Latin America Advisor published a commentary by Cefeidas Group Managing Director Juan Cruz Díaz and Public Policy, Risk & Strategy Lead Specialist Roland Huxley. They commented on Argentina’s debt restructuring with the International Monetary Fund (IMF) and its political and economic impacts on the country:
“The deal with the IMF is a positive development for the country in that it removes the uncertainty hanging over the economy generated by the untenable repayment program set out in the original agreement. Argentina will now avoid having to use its limited international reserves to make what would have been crippling repayments for a total of $19 billion by year’s end, with an additional $20 billion due in 2023…While the new repayment plan buys Argentina breathing room, implementing policies to meet the deal’s conditions, such as a reduction in Argentina’s fiscal deficit from 3 percent of GDP today to 0.9 percent by 2024, will require significant political capital.”
To read their complete commentary in the full article, please click here.