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Weekly Report - 20 May 2021 (WR-21-20)

TRACKING TRENDS

ARGENTINA | Debt deal. President Alberto Fernández concluded his four-day European tour on 13 May after holding a meeting with the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, in Rome. During his tour Fernández received the support of the leaders of Portugal, Spain, France, and Italy for Argentina’s efforts to renegotiate its debt with the IMF. This generated expectation that progress could be made during Fernández’s first in-person meeting with Georgieva. Fernández said that his tour had been “very productive” and talks with Georgieva “constructive”. However, he gave no indication of whether an agreement could be reached this month, which would allow Argentina to restructure its debt with the Paris Club which it must repay US$2.4bn before the end of May or face default.

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