Argentine Congress to Have Final Say Over IMF, New Foreign Debt Agreements

The bill would mean no IMF deal could go ahead without Congress’ support.

RIO DE JANEIRO, BRAZIL - Argentina’s Ministry of Economy said on Monday, November 9th, it would send a bill to Congress that would establish the legislature as the final approver of agreements with the International Monetary Fund (IMF) and the issuance of new foreign debt.

The South American country has recently emerged from a sovereign default situation after restructuring almost US$110 (R$585) billion in foreign currency bonds, and faces talks starting this month with the IMF over a deal to replace a partially non-utilized US$57 billion credit facility.

“We think it would be healthy for decisions . . .

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