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LatinNews Regional Monitor: Brazil & Southern Cone - 03 April 2020

ARGENTINA: Adjusting plans due to ‘Coronacrisis’

The Argentine government led by President Alberto Fernández has missed its self-imposed deadline to conclude debt renegotiations with the country’s foreign creditors. The government had hoped to do this before the end of March. But the global economic crisis produced by the coronavirus (Covid-19) pandemic has conspired against this. The ‘coronacrisis’ has increased doubts about Argentina’s economic prospects and its ability to repay its debts, complicating the renegotiation process [WR-20-12]. Meeting the deadline in these circumstances was simply too difficult. The Fernández administration may now be more focused on dealing with the pandemic, and mitigating its economic impact, but it is aware of the need to avoid a debt default to safeguard Argentina’s economic future.

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