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Bond Market News

Argentina to Get New IMF Deal to Pay Existing Debt

November 10, 2021

Argentina is negotiating a new loan program with the International Monetary Fund (IMF). The proceeds of the new loan would be used to pay its existing $19bn debt due in 2022 to the IMF itself. Argentina is seeking to close a deal before March 2021. The country already paid $2.47bn of the $45bn that it previously borrowed from the IMF. Sergio Chodos, IMF executive director for Argentina and the Southern Cone, said “The important thing is to have a program in which one has the certainty that it is not going to cause a new recession and is not going to eliminate this growth”

Argentina’s dollar bonds were stable with its 3.75% 2038s trading at 37.549, yielding 13.39%.

For the full story, click here

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