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AP National Business

Fernández, Biden hold talks amid Argentina’s economic strain

KTVZ
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Published 1:16 pm

By AAMER MADHANI and DANIEL POLITI
Associated Press

WASHINGTON (AP) — President Alberto Fernández of Argentina has used a White House meeting to spotlight the economic strain his country faces as he looks for President Joe Biden to back Argentina’s effort to renegotiate with the International Monetary Fund on terms of $44 billion debt. The United States has veto power in the IMF, so any sign of support from Biden to revise requirements to the debt agreement would be seen as a positive for Argentina while talks continue. Fernández said Argentina’s economy has endured the “worst drought” in the country in more than 90 years and he noted that Russia’s war in Ukraine has caused rippling effects on his country’s economy and others.

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