Government will ask the IMF to rebalance debt maturities

Finance Minister Hernán Lacunza has announced a series of measures to ensure that the next government badumes "without restriction the imminent deadlines of its debt". He therefore announced that he would ask the International Monetary Fund (IMF) to relaunch the movements of the debt.

"I do not think that the citizen who cares about everything," said Lacunza at a press conference that he offered this afternoon at the micro-palace of the Palacio de Hacienda, evoking the situation current economic situation. "Despite the goodwill of representatives of all parties, the dynamics of the last days showed that this consensus was not enough," he said.

Lacunza said the new measures were aimed at ensuring that the next government ("whoever," he pointed out) badumes "without restricting imminent or too high deadlines", for which he will extend the deadlines of the short-term debt. Letes and Lecaps only for institutional investors, as the first of four initiatives to reduce the financial burden.

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He added that the measures were aimed at "clean the financial horizon in the short, medium and long term" and "not to go beyond the problem that follows, whether it is the president (Mauricio) Macri or another candidate".

"We will propose to Congress a bill to extend the duration of the debt," he said, adding that the goal was "to give a constitutional framework to the consensus of which Argentina needs at the present time ".

He also said that the dialogue with the IMF will begin "within the framework of this mandate but will certainly continue in the next".

The Finance Minister said that "the expected effect should be to reduce the pressure on the foreign exchange market" and pointed out that "reserves should only be used under stress conditions".

With these measures "there is no reason for upward pressure on the foreign exchange market and that is what gives the program robustness," he said.

"The priority of President Macri is that there is no further devaluation or inflationary cycle" and concluded by emphasizing that "there is no point in reactivating measures if we do not have a new devaluation or an inflationary cycle". We have no stability, the first thing to do is restore stability ".