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Reuters
Reuters
Business
Eliana Raszewski

Argentina wants China to fully fund $8.3 billion nuclear plant amid cash shortfall

Technicians work at the control room of Atucha II Nuclear Power Plant, in Zarate, on the outskirts of Buenos Aires, Argentina April 4, 2022. Picture taken April 4, 2022. REUTERS/Eliana Raszewski

Argentina is pushing China to fully finance a new $8.3 billion nuclear power plant in the country, as the government grapples with high debt levels and looks to bring down its fiscal deficit as part of a recent deal with the International Monetary Fund.

The South American nation signed an agreement with the China National Nuclear Corporation (CNNC) for construction of a nuclear power plant in February. CNNC at the time said it would finance 85% of the cost, with Argentina shouldering the rest.

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