November 20, 2019 / 12:46 AM / 21 days ago

Argentina´s president-elect tells IMF he has sustainable plan to repay debt

FILE PHOTO: Argentina’s President-elect Alberto Fernandez speaks during a news conference after a meeting with Uruguay's President Tabare Vazquez at the Presidential House in Montevideo, Uruguay November 14, 2019. REUTERS/Mariana Greif

SANTIAGO (Reuters) - Argentina’s president-elect, Alberto Fernandez, has a “sustainable” plan to meet creditor obligations as well as maintain growth, he told the International Monetary Fund´s managing director Kristalina Georgieva, his office said.

On Tuesday, Fernandez told Georgieva there was no room for more fiscal adjustment due to an “enormously complex domestic economic situation”, his office said in a statement.

“We want to make a commitment that we can keep,” the incoming Argentinian president added.

The Fernandez camp statement said Georgieva told him she wanted to see Argentina leave behind “boom and bust cycles” to achieve a trajectory of sustainable growth.

She added that she wanted to work with Fernandez to tackle dual issues of inflation and promoting growth, it said.

In its statement, the IMF said Georgieva assured Fernandez, a Peronist elected last month, of the IMF´s “readiness to engage” with his government and work towards “paving the way for sustained growth and poverty reduction.”

Reporting by Aislinn Laing; Editing by Clarence Fernandez

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