IMF official says hopeful Argentina, creditors can reach agreement soon

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The International Monetary Fund is not party to discussions between Argentina and its creditors, but believes it is in the interest of both sides to reach an agreement soon in the country’s debt structuring talks, a top IMF official said.

First Deputy Managing Director Geoffrey Okamoto told an online event hosted by the American Enterprise Institute think tank he was hopeful an agreement could be reached, although he conceded it was not necessarily “an easy exercise.”

“We think it’s in the best interest of both parties that an agreement is reached relatively soon,” Okamoto said. “What we ultimately want is … also having a sound policy framework that allows Argentina to grow and prosper and interact with the world down the line.”

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