() — The government of Argentina sent a letter signed by the leaders of Brazil, Chile, Bolivia, Colombia, Mexico and Paraguay asking the president of the United States, Joe Biden, for his support during the ongoing debt negotiations with the International Monetary Fund (IMF). .
The letter signed by Luiz Inácio Lula da Silva, Luis Arce, Gabriel Boric, Gustavo Petro, Andrés Manuel López Obrador and Mario Abdo Benítez was published by the Argentine Ministry of Foreign Affairs this Thursday night.
In the letter, the Latin American leaders highlight their concern over the current economic crisis Argentina is facing “as a result of the previous administration’s overextension, the pandemic, the impact of the war in Ukraine and the consequences of the country’s greatest drought in centuries.” “.
“The drought has caused a loss of foreign currency of more than 20% of the country’s exports with a severe effect on international reserves that has complicated the operation of the stock market, reduced tax resources and had an impact on inflation,” he explains. the letter.
While Argentina’s government has been working to meet its commitments to the IMF, external factors have made it more difficult, the leaders argue. The country asked the IMF for a review that would allow them to face the challenges of this year and await the results of the energy and mining projects that the country is developing that would mean a positive impact, the letter added.
But the “inflexibility of the IMF to review its agreement” in the context of the drought runs “the risk of turning a liquidity problem into a solvency problem” in the country, the letter states.
“For these reasons, we respectfully and affectionately ask you to support Argentina in the negotiations it is carrying out,” the document says in the last paragraph.
