Argentina determines within days the scale of economic damage from the Corona pandemic

12:15 am

Monday 13 April 2020

Buenos Aires – (dpa)

Argentine President Alberto Fernandez said in an interview that Argentina will make an offer to its creditors “in the coming days” that reflects the economic damage caused by the Corona virus pandemic, Bloomberg News reported on Sunday.

The Argentine newspaper, Bravel, quoted Fernandez as saying that while debt negotiations are “well done”, the calculations of debt sustainability will be affected by the impact of the virus.

“The Corona virus affects the renegotiation of debts, at a time when the virus affects the entire global economy,” Fernandez said.


He said, “What we will sign is something we can accomplish as a government and as a state. I don’t want to sign something that has not been fulfilled.”

Fernandez told the newspaper that Argentina needed an economic recovery plan similar to the Marshall Plan after World War Two, and that making massive efforts to achieve recovery had become more urgent than devising a plan to contain inflation.

Argentina had postponed the payment of debts amounting to 8.9 billion dollars to 2021, in the midst of facing the Corona crisis.

The country’s total debt is $ 311 billion, or about 92 percent of gross domestic product.


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