Trump makes the call, congratulates Argentine President-elect Fernandez

by on November 2, 2019

US President Donald Trump called Argentine President-elect, Alberto Fernandez, to congratulate the centre-left politician for winning Sunday’s election and discuss the South American country’s troubled economy.

Fernandez sent a tweet, saying Trump told him he had “instructed the International Monetary Fund (IMF) to work with us to resolve the problem of our debt.’’

The IMF extended a $57 billion credit line to the recession and inflation-racked country last year when a run on the peso currency sparked concerns about a possible sovereign bond default.

“I thanked him for the gesture and told him of my intention to maintain a mature and cordial relationship with the United States,’’ the tweet said.

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The White House said in a statement the two leaders discussed bilateral relations and that Trump expressed U.S. support for helping Argentina “overcome economic challenges’’.

The IMF deal, negotiated with Argentina’s outgoing President Mauricio Macri, has been in limbo since the August 11 primary election, which Fernandez won by a higher-than-expected margin.

The primary result prompted a steep sell-off in Argentine asset prices and revived debt fears.

The peso steadied this week, helped by central bank interventions, after Fernandez’s October 27 election win.

The currency closed on Friday at 59.745 to the US dollar.


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