Economics
Argentina Gets $57 Billion as IMF Doubles Down on Record Bailout
- Credit line raised to $57 billion, most in hand by end of 2019
- Central bank to squeeze money supply, stop targeting inflation
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Argentina won a promise of extra cash and faster delivery from the International Monetary Fund, which expanded a record bailout to help the country defend its currency and pull the economy out of recession.
Argentina’s credit line will increase to about $57 billion over three years, from the $50 billion announced in June. The Fund will also deliver more of that cash up front. Argentina has already received $15 billion and will have access to another $35 billion by the end of 2019.