The newly elected president stressed that he had "the will to pay, but not the means to do so".
The plan was to ask the IMF for a 24-month extension. On the second day of her presidency, Fernández announced that they would focus on growth first in order to be able to pay off the debt contracted by the previous government, and also to renegotiate that debt. Inflation stood at 50%, the devaluation of the peso accumulated 540%, nearly 40% of the population at risk of poverty, 11% unemployment and debt at 95% of GDP. Peronism returned to the Casa Rosada, thanks to a broad alliance that encompassed all factions of one of the oldest political movements in the country, and Macri received a country mired in a serious economic crisis, with a foreign debt unleashed and an agreement signed with the International Monetary Fund. Previously, Alberto Fernández embraced outgoing president Mauricio Macri in a gesture of détente while the former president coldly shook hands with her former political rival for four years. A little over a year ago, on 10 December 2019, Alberto Fernández and Cristina Fernández de Kirchner entered the Chamber of Deputies, where they were to be sworn in as president and vice-president of Argentina.
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