Macroeconomy/Finance

IMF cannot offer Argentina a haircut on loan, Georgieva

The International Monetary Fund won’t offer Argentina a haircut on its $44 billion loan, according to Managing Director Kristalina Georgieva. “Our legal construct is such that we cannot do measures that may be possible for others without this big global responsibility,” she said. An IMF technical mission is in Buenos Aires through Feb. 19 to meet with Argentina officials and assess the country’s debt sustainability. Talks with the IMF will be key for an even bigger negotiation with bondholders to avoid a default.

Source: Bloomberg