They extend debt repayment deadlines and renegotiate with the IMF – News

Finance Minister Hernán Lacunza on Wednesday announced measures to "ease the financial burden" in the midst of the currency crisis and stressed that the government had proposed to the IMF "to start the dialogue to revive the deadlines of its debt".

After two days in which the dollar has recorded a strong lead to exceed $ 60 and country risk in excess of 2,100 points, the leader announced initiatives to "take care of the Argentines, especially in these moments of tension "exchange rate and financial".

At a press conference, Mr. Lacunza announced that the government had proposed to the IMF "to start the dialogue to relaunch the debt maturities".

He planned to meet with the authorities of the multilateral agency "in the coming weeks" and said that the proposal was an "extension of conditions in the case of medium and long-term debt".

He claimed that the administration of Mauricio Macri had the intention to "change the deadlines, but not the rest of the conditions".

In addition, he stressed that this should be done with a financial program that "must be coherent".

"The mission that began Saturday ended today," he said, noting that the parties would now begin "long-term dialogue".

He pointed out that the government had also decided to "extend the maturities of short-term debt, in pesos and dollars, and only for institutional investors".

"We have decided to submit the Congress for review in order to provide debt extension tools under local jurisdiction," he said. He also decided "to initiate a process of extension of long-term obligations under foreign legislation".

Thus, the minister recalled that the measures were aimed at "easing the financial burden".

At the same time, he acknowledged that the results of the financial program were "below expectations, especially in terms of inflation and employment".

When asked about the effect the announced measures could have on the exchange rate, he badyzed: "It is these initiatives that make it possible to relax the availability of reserves to meet the potential demands of the exchange order."

He badured that there would be "more resources to allocate on the foreign exchange market" and confirmed that "the reserves must be used".

"No government can act alone and less during an election period," he said, calling for a "protective campaign on the financial system" between different political spaces.

/ Integrated code /