Argentina’s economy minister travels to Europe to woo finance officials over debt


FILE PHOTO: Argentina’s Economy Minister Martin Guzman poses for a photo before an interview with Reuters at the Economy Ministry, in Buenos Aires, Argentina December 10, 2020. REUTERS/Agustin Marcarian

BUENOS AIRES (Reuters) – Argentina’s Economy Minister Martin Guzman will travel to Europe on Sunday to bolster support from G7 and G40 countries for a renegotiation of its multibillion-dollar debts to the Fund. International Monetary Fund (IMF) and the group of Paris Club creditor countries.

Guzman will travel to Germany, France, Italy and Spain, where he will meet with his counterparts and other officials to outline Argentina’s restructuring plans during a five-day trip.

“The objective is to obtain the necessary support from IMF shareholders (in particular the G7 and G20) to finalize a program that will serve Argentina,” the economy ministry said in a statement.

The government of center-left President Alberto Fernandez is scrambling to renegotiate some $45 billion the country owes the IMF.

The coronavirus crisis has ravaged the already struggling economy of the leading grain producer, complicating efforts to meet its obligations.

Argentina also faces maturing $2.4 billion in debt it owes to the Paris Club, whose members include the countries it visits.

Report by Nicolas Misculin; written by Aislinn Laing; edited by Jonathan Oatis

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