Argentina strikes potential deal to refinance $45 billion debt
BUENOS AIRES (AP) — Argentina’s government announced Thursday that it has reached an agreement with the International Monetary Fund to refinance some $45 billion in debt, marking an attempt to avoid default and ease uncertainty. economy that hung over the country for two years of negotiations. The deal would allow Argentina to start repaying its debt from 2026 and continue until 2034, the economy ministry said in a statement. The existing arrangement had concentrated payments in 2022 and 2023, the statement said.
The revised terms must first be approved by the Argentine Congress and then by the IMF’s Executive Board to enter into force. The government said it would submit legislation later on Thursday, although it was unclear whether the measure would pass.