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BUENOS AIRES (Reuters) – Argentine financial system minister Martin Guzman explained late on Friday that a $45 billion financial debt offer with the International Financial Fund will not be modified, following a meeting with IMF head Kristalina Georgieva.

“We are not going to change the objectives of the software with the IMF,” Guzman explained to regional media.

The South American country’s middle-still left Peronist governing administration led by President Alberto Fernandez struck a employees-level agreement with the international lender at the beginning of March to keep away from a default.

The deal lays out a fresh new timetable of financing above a 30-thirty day period interval to replace a failed $57 billion system from 2018 that the grains-producing region was not able to pay again after several years of recession, spiraling inflation and funds flight

On the other hand, Guzman cautioned without offering additional information that there will be a alter in emphasis to emphasis on the social safety internet thanks to the fallout from the Russian invasion of Ukraine which has activated around the globe inflation.

Argentina has extended experienced from particularly superior inflation. Nevertheless, the war has enhanced value surges in Argentina as effectively as a lot of Latin America. Argentina’s 2021 inflation hit over 50%.

(Reporting by Maximilian Heath Modifying by Andrea Ricci)

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