BUENOS AIRES, Argentina (AP) — Argentine presidential candidate Alberto Fernández says that no one wants a default for the South American country and he’s ruling it out if elected.
The center-left candidate appeared to be trying to calm investors who reacted to his strong finish in the initial round of voting by battering Argentina’s stocks and currency.
Many fear he might halt repayment of a $56 billion credit line from the International Monetary Fund, repeating the sort of default prompted by a crisis two decades ago.
But Fernández said at a candidates’ forum Thursday that “nobody can seriously propose” a default because “it is a debt contracted two years ago by a democratically elected government.”
He said a default “is a solution that sets us back” and said it’s “an error” to raise the issue.