IMF Heads to Argentina for Debt Talks With Poker-Faced Fernandez

Argentine President Alberto Fernandez has likened negotiating the nation’s debt to playing poker. This week he’ll have to show some of his cards to the International Monetary Fund, Bloomberg News reported. IMF negotiators land in Buenos Aires on Wednesday for their first mission since the leftist president took office in December. Before agreeing to any changes in the terms of their current deal, they will want to see Fernandez’s blueprint for tackling more than $320 billion in total debt and for rescuing an economy that’s forecast to shrink for a third straight year. Talks with the IMF, to which Argentina owes $44 billion, will be key for an even bigger negotiation with bondholders to avoid a default. Read more

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