Argentine President Alberto Fernández revealed a new lending agreement with the International Monetary Fund on Friday, the day on which a payment of seven hundred million dollars was due.
The South American country had to repay $19 of its $44 billion debt to the IMF this year.
"Compared to previous agreements signed by Argentina, this agreement does not include restrictions that would delay our development," Fernandez said.
Details of the new agreement are expected to be released later Friday by Finance Minister Martin Guzman.
Under the previous deal, Argentina would have to repay $19 billion this year, $20 billion next year and another $24 billion in 2024.
The centre-left government has repeatedly stated that the repayment schedule was unsustainable
(CNA)
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