The Argentine opposition candidate, Alberto Fernandez, said that the country wou...
BUENOS AIRES - The Argentine opposition candidate, Alberto Fernandez, said that the country would struggle under present conditions to repay a loan to the International Monetary Fund and he would seek to renegotiate the repayment terms, according to an interview published on Sunday by the newspaper Clarin.
“I have no problem helping the president to renegotiate in the way that I propose but do have a lot of trouble with is having to explain to the Fund the failings of the president. That the president will have to do,” he added. “We have to understand that we are virtually in default conditions now and that is why Argentine bonds are worth what they are worth, because the world knows that they cannot be paid,” he told Clarin. “We must act sensibly, and it is sensible that Argentina must fulfill its obligations.”
The peso ended the week 17.58% weaker, going from 45.33 pesos per dollar before the elections to 55 pesos on Friday, despite intervention by the central bank. Fernandez, a former cabinet chief during the administration of former President Néstor Kirchner , said he believed that with the dollar at 57 pesos, inflation would close the year up more than 50 percent.
FILE PHOTO: Presidential candidate Alberto Fernandez speaks on stage during the primary elections, at a cultural centre in Buenos Aires, Argentina, August 11, 2019. REUTERS/Agustin Marcarian/File Photo
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