BUENOS AIRES, July 13 — The International Monetary Fund and Argentina flagged “progress” in debt talks after meetings between the two sides in Italy concluded, with the South American nation looking to revamp the roughly US$45 billion it owes the Fund.
“The Argentine authorities and IMF staff held productive meetings to further advance the technical work towards an IMF-supported program,” the IMF mission team said. Argentina, which has been hit by debt and currency crises in recent years, has been locked in talks with the IMF over a new deal to replace a 2018 agreement that failed to head off economic crisis in the country.
“The meetings of the technical teams brought progress and understandings on key issues of the government’s economic program,” Argentina’s Economy Ministry said in a statement.