Argentina to Spur Growth and Pay Debt, President-Elect Tells IMF

Argentine President-elect Alberto Fernandez on Tuesday told International Monetary Fund Managing Director Kristalina Georgieva that he has a plan to grow the economy and tackle the nation’s debt after his predecessor agreed to a $56 billion credit line from the fund, Bloomberg News reported. “We have developed a sustainable plan that will allow us to grow and comply with our obligations that Argentina has with you and with the rest of the creditors,” Fernandez told Georgieva in their first publicly known phone call, according to his transition team’s press statement. “We’re taking on a commitment that we can meet.” Although Fernandez, who takes office Dec. 10, said he well understood the “relevance” of fiscal viability, he reiterated his campaign pledge that any new agreement between Argentina and the IMF won’t include austerity. Read more