Economy minister Amado Boudou said a few days ago in Brazil that “Argentina has to look for common ground with the IMF (International Monetary Fund).
Bodou foresees that Argentina is likely to have a “new role in global economy”, and therefore stressed that the country will try to rebuild their relations with the IMF.
Three main actions would be carried out to approach the lender. Argentina will launch a swap to take off the market 9 billion pesos ($2.3 billion) in short-term inflation-indexed bonds, with bidding to be complete next week, Economy Minister Amado Boudou said on Friday. He also said the government would reopen existing 2014 bonds to exchange for the inflation-indexed paper, which is mostly held locally and by public sector entities.
Details of the swap were scheduled to be published in the Official Gazette on Tuesday.
According to Bodou, resuming relations with the fund is especially important in the current financial environment of the country as it lacks credit and has debt maturities.
On the other hand he made clear that he doesn’t intend to comply with the IMF’s conditions nor discuss the government’s economic policy.
