Buenos Aires wants faster payouts and easier economic targets.
"More than a debt, it's a crime," President Fernandez wrote in a tweet on Thursday, citing a new government auditor report that concluded the original deal had lacked the required impact study and not passed through proper legislative channels.
Fernandez, who has criticized the original deal before, called for an investigation "with all the weight of the law."
Powerful but divisive Vice President Cristina Fernandez de Kirchner, a previous two-term president, called the original deal "scandalous" and a "scam" of the Argentine people.
Macri and the IMF have defended the original deal as necessary to restore Argentina's economic stability.