Argentine econ minister says no deal with IMF yet to reduce deficit

Argentina and the International Monetary Fund have so far failed to reach an agreement to refinance the roughly $45 billion it owes the fund due to an impasse over how to reduce the country’s budget deficit, Economy Minister Martín Guzmán said on Wednesday.

"The budget path is the point where today there is no agreement," he said during a meeting with provincial governors in Buenos Aires.

"The difference between what the IMF proposes and what we propose from the Argentine government consists in differentiating between a program that, with high probability, would halt the economic recovery that Argentina is having (...) versus having a program that would give continuity to this strong recovery that Argentina is having," he added.