Latin America

Argentina’s record-high USD 44 billion IMF debt in limbo

Though restructuring talks are ongoing, key players on both sides are openly taking shots at one another

imf Protester dressed as Eva Perón at IMF building sings a parody of "Don't Cry for me Argentina" in support of debt relief. Photo: Phil Pasquini/Shutterstock
Protester dressed as Eva Perón at IMF building sings a parody of “Don’t Cry for me Argentina” in support of debt relief. Photo: Phil Pasquini/Shutterstock

Argentina was the name on everyone’s lips in financial markets between 2015 and 2017. The country was issuing debt locally and internationally, denominating it in multiple currencies and even launching a century-long bond that is seen today as the symbol of how irrationally optimistic investors had become. When it all came crumbling down in 2018, then-President Mauricio Macri only had one creditor willing to answer his calls: the International Monetary Fund (IMF).

But Argentina now has to repay its record-high USD 44 billion IMF loan, with roughly USD 20 billion in maturities in 2022 and a similar sum...

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