BML 5.10 Increased By ▲ 0.09 (1.8%)
BOP 11.81 Decreased By ▼ -0.06 (-0.51%)
CNERGY 7.16 No Change ▼ 0.00 (0%)
CPHL 88.40 Decreased By ▼ -0.89 (-1%)
DCL 14.10 Increased By ▲ 0.29 (2.1%)
DGKC 168.19 Increased By ▲ 2.19 (1.32%)
FCCL 46.58 Increased By ▲ 0.23 (0.5%)
FFL 16.07 Increased By ▲ 0.09 (0.56%)
GCIL 27.88 Decreased By ▼ -0.57 (-2%)
HUBC 141.92 Decreased By ▼ -1.06 (-0.74%)
KEL 5.13 Decreased By ▼ -0.01 (-0.19%)
KOSM 6.34 Increased By ▲ 0.05 (0.79%)
LOTCHEM 21.43 Increased By ▲ 0.50 (2.39%)
MLCF 85.25 Increased By ▲ 0.62 (0.73%)
NBP 121.31 Increased By ▲ 1.04 (0.86%)
PAEL 42.88 Decreased By ▼ -0.42 (-0.97%)
PIAHCLA 21.16 Increased By ▲ 0.01 (0.05%)
PIBTL 9.07 Increased By ▲ 0.44 (5.1%)
POWER 13.85 Decreased By ▼ -0.16 (-1.14%)
PPL 172.67 Decreased By ▼ -0.83 (-0.48%)
PREMA 43.80 Decreased By ▼ -1.11 (-2.47%)
PRL 33.35 Increased By ▲ 0.18 (0.54%)
PTC 25.44 Increased By ▲ 1.43 (5.96%)
SNGP 120.69 Decreased By ▼ -0.40 (-0.33%)
SSGC 46.53 Increased By ▲ 0.58 (1.26%)
TELE 8.37 Increased By ▲ 0.32 (3.98%)
TPLP 10.72 Increased By ▲ 1.00 (10.29%)
TREET 23.81 Decreased By ▼ -0.48 (-1.98%)
TRG 57.94 Decreased By ▼ -0.49 (-0.84%)
WTL 1.60 Increased By ▲ 0.05 (3.23%)
BR100 13,524 Decreased By -23.5 (-0.17%)
BR30 39,727 Decreased By -15.3 (-0.04%)
KSE100 133,403 Increased By 33 (0.02%)
KSE30 40,651 Decreased By -53.9 (-0.13%)
Business & Finance

Argentine president to head to Europe as IMF debt weighs heavy

  • On Monday afternoon he will head to Spain to meet King Felipe VI and Prime Minister Pedro Sanchez.
Published May 7, 2021

BUENOS AIRES: Argentina's President Alberto Fernandez will head to Europe and meet Pope Francis in the Vatican as the country looks to secure a repayment deal with the International Monetary Fund.

The crisis-hit South American country is due to start repaying the $44 billion loan this year but in March Fernandez said the debt in its current form was "unpayable."

In recession since 2018, Argentina must also repay a $2.8 billion loan with the Paris Club of creditor countries that provide sustainable solutions to debtor countries.

Those included three of the countries Fernandez will visit: France, Italy and Spain.

Fernandez is due to arrive in Portugal on Sunday to meet his counterpart, Marcelo Rebelo de Sousa, while Economy Minister Martin Guzman, Foreign Affairs Minister Felipe Sola, and first lady Fabiola Yanez will also make the trip to Europe.

On Monday afternoon he will head to Spain to meet King Felipe VI and Prime Minister Pedro Sanchez.

French President Emmanuel Macron will host Fernandez at the Elysee Palace on Wednesday and the next day fellow Argentine Pope Francis will welcome him to the Vatican before a final meeting with Italian President Sergio Mattarella and Prime Minister Mario Draghi.

Comments

Comments are closed.