Argentine presidential candidate Alberto Fernandez said on Thursday there was &q...
BUENOS AIRES - Argentine presidential candidate Alberto Fernandez said on Thursday there was “no possibility” the country would default on its debt if he were elected in October, but that the government would have to negotiate new terms with creditors due to the weak economy.
Fernandez is expected to win Argentina’s Oct. 27 presidential election after his resounding lead over President Mauricio Macri in the Aug. 11 primary vote.“We will have to talk with the creditors to see how we can resolve the situation, because if Argentina has to pay its obligations under present conditions, that will be hard to do,” Fernandez said.
Center-left Peronist Fernandez has been critical of last year’s massive $57-billion standby agreement with the International Monetary Fund and the austerity measures it imposed. He has pledged to “rework” it if elected. He put a brave face on the recession- and inflation-racked economy. “We have not solved all the problems, but we are much closer now to fiscal equilibrium,” Macri said. The IMF deal calls on Argentina to erase its primary fiscal deficit this year.
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