Argentina VP Claims Government Unable to Pay $45 Billion IMF Debt

Argentina Vice-President Cristina Fernandez de Kirchner on Wednesday said that the country is incapable of repaying its $45 billion debt to the International Monetary Fund (IMF), amidst ongoing negotiations.

At an event in capital Buenos Aires the vice-president claimed, “We can’t pay because we don’t have the money to pay.”

She held that the terms under current negotiations are “unacceptable.”

The South American nation is still under talks with the IMF for rescheduling its payments after it restructured its debts last year.

“We are not saying to not pay the debt,” Fernandez de Kirchner said as she urged the opposition to help lobby for a longer term since they incurred the debt under former President Mauricio Macri.

“Our political group was the only one that paid the debts of all the other governments. We should make an effort, the ruling party and the opposition, to give us a longer term and a different interest rate on a debt that others have contracted,” she added.

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