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Argentina Seeks ‘Stand-By’ Agreement With IMF

  • Treasury minister to meet Lagarde, U.S.’ Malpass in Washington
  • Central bank activates $2 billion contigency line with BIS
Nicolas Dujovne, Argentina's treasury minister.

Nicolas Dujovne, Argentina's treasury minister.

Photographer: Andrew Harrer/Bloomberg
Updated on

Argentina said it is negotiating a stand-by credit arrangement with the International Monetary Fund that may take six weeks to finalize as the central bank announced it activated a contingency line with the Bank for International Settlements.

Treasury Minister Nicolas Dujovne met with the Fund’s Western Hemisphere chief, Alejandro Werner, on Wednesday in Washington in order to begin negotiations that may last more than a month, his press office said. The government believes it can secure the credit at an interest rate of about 4 percent, Finance Minister Luis Caputo said on TN television late Wednesday.