IMF chief says no alternative to Argentina deal

WASHINGTON: IMF Managing Director Kristalina Georgieva on Thursday said there was no alternative to a pending agreement with the Washington-based crisis lender to get Argentina out of its spiral of inflation and poverty.

“Our main focus is to get Argentina out of this very dangerous path of high inflation,” she told reporters.

Last week, Argentina and the IMF announced they had reached a deal to renegotiate a staggering $44 billion in debt in exchange for economic reforms, though further negotiations are expected.

Georgieva said these talks offered a path forward for Argentina, and without a deal, poverty would rise, particularly among children.

“What is the alternative? The alternative is nothing,” she said.

“Our team is very focused on getting the very best for the country.”

Georgieva declined to speculate on what would happen if Argentina’s Congress rejected the deal.