New Argentine government reluctant to repay debt Concern about financial market impact December 11 10:30
In Argentina in South America, a new administration has emerged that claims to spread to the poor and left. The new administration is reluctant to repay external debts amounting to 36 trillion yen in Japanese yen, and there are concerns about the impact on the international financial market.
On the 10th in Argentina in South America, Alberto Fernandez was appointed as the new president who claims to strengthen taxation on the wealthy and disperse the poor on the left.
New President Fernandez said in his inaugural address, “We must correct the wrong policy based on social justice and try to break out of poverty,” and the IMF will exceed $ 50 billion from the International Monetary Fund. He stated that he had set up a loan facility, saying that growth is necessary first, and expressed his desire to defer repayment.
Argentina has an external debt of 36 trillion yen, with a total of $ 340 billion in Japanese yen, and has been trying to rebuild the economy with a loan from the IMF, but the new administration is reluctant to repay the debt As a result, the possibility of falling into default = default again, such as the currency peso plummeting against the dollar, is increasing.
The new President Fernandez is seeking a financial cooperation from President Trump in the United States, the largest investor of the IMF, while strengthening a confrontational attitude, such as appointing a scholar critical of the IMF as the economic minister of the new administration. There are also concerns about the impact on international financial markets.