International Monetary Fund says Argentina’s debt ‘unsustainable’ – Gulf Today

International Monetary Fund says Argentina’s debt ‘unsustainable’ – Gulf Today

The International Monetary Fund (IMF) warned Argentina's bondholders that they would likely need to take a hit to help resolve the country's "unsustainable" debt burden.. The IMF stance lends support to Argentina's new Peronist government, which has maintained it cannot pay its debts unless given time to revive growth.. Argentine bond prices, which were hammered last year, have wobbled recently as investors waited on signs from the IMF about its stance, likely to be influential in how Argentina goes about its debt restructuring plans.. Guzman recently said austerity policies backed by the IMF were to blame for Argentina's debt crisis and warned that upcoming debt talks would likely be frustrating for bondholders.. Argentina needs to restructure $100 billion in sovereign debt with creditors, including the IMF, amid a steep recession with inflation above 50 per cent.