Kirchner says Argentina ‘can’t afford’ IMF debt

The US$45 billion debt with the International Monetary Fund will need to be restructured.

RIO DE JANEIRO, BRAZIL - "We can't pay because we don't have the money to pay," Vice President Cristina Kirchner declared, according to the Bloomberg news agency. Argentina would have no way to honor the $45 billion debt with the International Monetary Fund.

Part of the total, in the amount of US$3.8 billion, matures already this year. The news came to light after Argentine Economy Minister Martín Guzmán met with IMF officials Tuesday in Washington.

Argentina is going through a seemingly endless fiscal crisis, spending more than it collects, with the situation getting even worse . . .

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