Argentina to Seek New IMF Plan However Debt Talks Turn Out

Argentina will seek a new program with the International Monetary Fund whatever the outcome of talks with holders of its $65 billion of defaulted overseas bonds, Economy minister Martin Guzman said, Bloomberg News reported. Guzman also reiterated that the country has reached the upper limit in what it’s prepared to offer creditors, though said the government would consider improving the legal terms of the offer. “After the debt restructuring process with the private creditors, we expect to request a new IMF program that replaces the previous one that didn’t work,” Guzman told Bloomberg Television in an interview Tuesday. “This is going to happen regardless of what happens with private creditors.” Read more

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