Markets Give Argentina Breathing Room With IMF Talks Easing Concern
Photographer: Victor J. Blue/Bloomberg
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Argentine markets rebounded on Thursday as Treasury Minister Nicolas Dujovne meets with the International Monetary Fund to discuss terms for a credit line that can help stabilize the country’s finances after a selloff in the peso.
The peso gained for the first time in four days following the announcement late on Wednesday that the central bank activated a $2 billion credit line with the Bank for International Settlements and that Argentina began talks with the Fund on a stand-by agreement. The currency rose 0.4 percent to 22.65 per dollar at 11 a.m. in Buenos Aires. The yield on the century bond fell 20 basis points from a record to to 8.04 percent.