BUENOS AIRE (Reuters) – Martin Guzman from Argentina’s economy ministry said that the $45 billion agreement to borrow money with the International Monetary Fund won’t be changed after a meeting between Kristalina Georgieva, head of IMF.

Guzman said that he was not planning to alter the IMF’s goals.

To avoid default, the Peronist center-left government in South America led by President Alberto Fernandez reached a staff level agreement with the international lender.

This agreement sets out a new schedule for financing, over a period of 30 months. It replaces a $57 billion failed program that was started in 2018 by the grain-producing nation. The plan is to fund a replacement program.

Guzman warned, but did not give more information about the possibility of a shift in the emphasis on social security nets due to global inflation.

Since long, Argentina has suffered greatly from high levels of inflation. However, Argentina’s war on terror has caused price increases in many other countries of Latin America. The 2021 Argentina inflation rate was over 50%.