Argentine government will present an agreement with the IMF in Congress | News
The Government of Argentina closed this Wednesday the agreement that was discussed with the International Monetary Fund (IMF) on the multimillion-dollar debt acquired during the management of Mauricio Macri, now the project will be presented in the Chamber of Deputies next Thursday.
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The IMF mission will visit Argentina every quarter during the 12 years that the Extended Facilities Reloaded lasts, which was negotiated between the Ministry of Economy and the Fund's technicians.
The negotiators on both sides, the Argentine Ministry of Economy and the IMF anticipate that by the end of March the proposal should have passed through the National Congress.
#LAST MOMENT Finally, on Wednesday evening, the Argentine government ended the negotiation with the IMF for the debt inherited from Mauricio Macri. This Thursday 3, at noon the project enters the Chamber of Deputies. @teleSURtv pic.twitter.com/kfpUsHcRnM
– Juan Carlos Bartolotta (@JuanCteleSUR)
March 3, 2022
The project must go through the Chamber of Deputies, then through the Senate so that, once approved, it is presented to the body for final approval.
It is worth mentioning that, as planned, the program ends on March 22, the date on which the Latin American nation will have to pay a total of 4.8 billion dollars to the IMF.
The agreement with the IMF will be for 12 and a half years and in the first two years the international mechanism will have to pay itself the 44,700 million dollars corresponding to the Stand By signed in 2018.
After this, two more similar payments would correspond in September and December, and another four during 2022 in a schedule that would close in 2024.
Local media detail that with the Reloaded Extended Facilities that the Argentine Government will present, the situation until 2026 regarding payments to the IMF will be controlled and limited only to the usual contributions to the international organization and interest settlements.
In total, according to the agreement, there must be 12 equal installments to be paid every six months, the first in September 2024 and the last in December 2034, detailed the Argentine media.
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