Alberto Fernandez rocked markets last week when a poll installed him as a likely successor to Mauricio Macri.
Argentine Economy Minister Nicolas Dujovne resigned on Saturday and has been replaced by Hernan Lacunza.
In particular, the bond and currency markets reflected investor unease at the move away from Macri's market-friendly policy agenda. Macri borrowed $57 billion from the IMF last year on the agreement he would implement austerity measures to trim the country's huge debt and make the repayments. On Monday morning, the cost of insuring Argentinian debt via a five-year CDS rocketed 319 basis points, according to financial data specialist IHS Markit. A CDS is a financial agreement that the seller of the CDS will compensate the buyer in the event of a default.Fernandez told the paper that he would help Macri renegotiate the terms of repayment with the IMF, adding that the current terms were "harmful" to the country.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Argentina´s Fernandez says country will struggle to repay IMF loan, must renegotiateThe Argentine opposition candidate, Alberto Fernandez, said that the country wou...
Read more »
Argentina´s Fernandez says country will struggle to repay IMF loan, must renegotiateThe Argentine opposition candidate, Alberto Fernandez, said that the country wou...
Read more »
Argentina's treasury minister resigns, senior official saysA senior official in Argentina's presidential office says the country's treasury minister has resigned and will be replaced by the economy minister of the country's most populous state
Read more »
Turkish plan aids Afghans who are forced to return homeThe Turkish government says it realises many migrants who are forced to return to Afghanistan face desperate conditions there and wants to do more than simply send them back.
Read more »
Argentina Treasury minister resigns, says 'significant renewal' needed amid economic crisisArgentina´s Treasury Minister Nicolas Dujovne has resigned, saying in a letter s...
Read more »