Weekly Report - 10 March 2022 (WR-22-10)

ARGENTINA: Opposition digs in heels over IMF accord

More than two years after it began the process of renegotiating Argentina’s outstanding debt of US$45bn to the International Monetary Fund (IMF), the government led by President Alberto Fernández finally struck a definitive accord on 3 March. It now has under two weeks to persuade congress to pass the deal before the IMF’s executive board can give its own seal of approval, ahead of a major repayment of US$2.84bn to the IMF, which falls due on 22 March. The main right-of-centre opposition coalition Juntos por el Cambio (JxC), whose support will be required, is making the government sweat. It has indicated its readiness to approve the IMF accord but not the government’s associated economic plan contained within the bill sent to congress.

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