Argentina plans to spend $664 million on fighter jets, possibly from China or U.S

(This Sept. 21 story corrects value in first paragraph to $664 million, not $664)

By Nicolás Misculin

BUENOS AIRES (Reuters) – Argentina is looking at buying up to $664 million-worth of multipurpose fighter jets to safeguard its airspace, the Defense Ministry said in a statement on Tuesday.

A source with knowledge of the negotiations told Reuters that planes from China, the United States, Russia, South Korea or Israel were being considered.

The process “is in the technical-economic and financial evaluation stage of five alternatives,” the ministry said in an official statement.

Argentina is in the midst of the severe economic crisis that was exacerbated by the coronavirus pandemic.

The ministry said the financing for the planned acquisition of the jets was outlined in the 2022 budget proposal that will be voted on in congress, where the governing coalition has a majority, in the coming weeks.

(Reporting by Nicolas Misculin; Writing by Aislinn Laing; Editing by Alison Williams)