This is a key step for Argentina after long months of negotiations and uncertainty over financial stability.
Buenos Aires has just obtained final approval from the International Monetary Fund for a new loan of 44 billion dollars.
Friday's board approval authorizes a first disbursement of $9.6 billion.
This will make it possible to repay a deadline by Thursday of 2.9 billion dollars.
Argentine Finance Minister Martin Guzman hailed this
“important step forward”
for macroeconomic stabilization, which will thus create
“favorable conditions to be able to continue the strong economic recovery that the country is experiencing”
.
“Extraordinary economic and social challenges”
Ironically, this IMF aid, which has become essential to escape bankruptcy, will be used to repay a previous loan of 57 billion dollars, contracted by the previous government of Mauricio Macri (center right).
This is the highest amount ever granted by the IMF, which incidentally plays…
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