Economics

IMF Cannot Offer Argentina a Haircut on Loan, Georgieva Says

IMF as lender of last resort needs loans to be paid back
Argentina supports President Fernandez’s economic efforts

IMF Managing Director Kristalina Georgieva says a lack of reforms is hurting the global economy. She talks to Yousef Gamal El-Din in Dubai. (Source: Bloomberg)Source: Bloomberg)

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By Jose Orozco and Abeer Abu Omar

February 16, 2020 at 7:47 PM UTC

Updated on

February 17, 2020 at 5:27 PM UTC

This article is for subscribers only.

The International Monetary Fund, as the lender of last resort, won’t offer a haircut on its Argentina loan after Vice President Cristina Fernandez de Kirchner called on the institution to take a loss.

“Our legal construct is such that we cannot do measures that may be possible for others without this big global responsibility,” Managing Director Kristalina Georgieva said Sunday in a Bloomberg Television interview in Dubai.