Argentina won’t use ‘one dollar’ of reserves to repay IMF, says Massa
2023.07.31 08:42
© Reuters. FILE PHOTO: Presidential pre-candidate Sergio Massa speaks during his presentation at the 135th Argentine Rural Society’s annual exposition, in Buenos Aires, Argentina July 24, 2023. REUTERS/Matias Baglietto/File Photo
BUENOS AIRES (Reuters) – Argentina’s Economy Minister Sergio Massa said on Monday the country will not use “a single dollar of its own reserves” to make an International Monetary Fund (IMF) repayment due this week.
Massa, who is also a presidential candidate in this October’s election, said in a speech that the South American nation had agreed to extend a swap line with China for it to proceed with the payment.
The challenge for Argentina now, he added, is to “continue to take care of the (foreign currency) reserves while maintaining the economic activity levels.”
