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Weekly Report - 6 February 2020 (WR-20-05)

Argentina gets divine help in debt renegotiation

Argentina’s President Alberto Fernández concluded a six-day tour of Europe on 5 February, taking him from Vatican City, where he was welcomed by Pope Francis, who organised a forum on economic solidarity that looked tailor-made for his native country, to the Élysée Palace in Paris. Fernández was seeking to drum up political support for his government’s much-anticipated debt renegotiation with creditors, especially the International Monetary Fund (IMF). The tour took place against the backdrop of a fraught standoff between Argentina’s most populous province of Buenos Aires, governed by a Peronist ally, Axel Kicillof, and bondholders. If this was a litmus test for the national government’s upcoming negotiations, the outcome was none too encouraging for Fernández.

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