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Source: The New York Times
By: Rodrigo Campos
01.28.2020

An IMF technical team will travel to Buenos Aires in February, an important step in critical debt negotiations, after the fund held positive talks with Argentine Economy Minister Martin Guzman in New York on Tuesday.

The International Monetary Fund, which extended a $57 billion (43.4 billion pounds) credit facility to the indebted South American nation in 2018 and is key its hopes of avoiding default, called the New York meeting "very productive" in a statement.

Argentina is battling to restructure around $100 billion in sovereign debt after crashes in the peso currency, steep inflation and an anemic economy left the major grains exporter unable to service its public debts.

"Both parties reiterated their readiness to continue their discussions in the coming weeks," the IMF said, adding that its Managing Director Kristalina Georgieva would meet Guzman on the sidelines of a seminar organised by the Vatican on Feb. 5.

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