Argentina’s debt load is unsustainable, the International Monetary Fund said, offering what is effectively a seal of approval to the government’s plan to saddle creditors with losses in a renegotiation of its liabilities.
A “meaningful contribution” will be necessary from private bondholders to restore the country’s debt sustainability, the IMF wrote in a statement Wednesday following a week of meetings with Argentine officials during its first technical mission in Buenos Aires under Alberto Fernandez’s presidency.
