By Miguel Lo Bianco and Horacio Soria

BUENOS AIRES, (Reuters) – On Tuesday thousands of Argentines protested against a deal made with the International Monetary Fund to restructure more than $40 Billion of national debt that the country is unable to repay.

With banners stating “no payment to IMF” or “no IMF agreement”, protestors marched through Washington, DC. This was a clear sign that tension is rising in South American nations over the tentative deal struck last month.

The IMF and Argentina announced in January a breakthrough in their negotiations for a revamp of a failing 2018 loan. It would not only push back debt payments but also include pledges to reach certain economic targets that were agreed upon with the lender.

The agreement is still in the process of being finalized, and must be approved by Argentina’s Congress.

Celeste Fierro said, “No to government’s agreement with IMF.” She was a protest leader wearing a Tshirt that read “scams not paid”.

“They want to force us into paying more fiscal adjustments with greater precarity and more taking from us. This is why they cannot permit our people’s submission to the IMF’s plans.”

Kristalina Georgieva of IMF was quoted as saying last week, that even though an agreement in principle had been made with Argentina regarding a new standby loan to the country, it still required “hard work.”

Argentina has seen splits in its ruling Peronist coalition, as one prominent legislator resigned from his post in Congress to oppose the agreement.

Juan Carlos Giordano of the leftist group was one of the representatives in the march. He stated that the debt agreement was like making the workers pay for the bills and that funds should be used as a way to help people get out from poverty.

He stated, “The goal is to protect wages and defend work so the money goes to fight social ills,” and blamed the former government of conservative Mauricio Madrigal for taking over the IMF debt.

We are marking a way. We are on the path to no resignation or submission and to no IMF.”