Economics
Argentina Inks $45 Billion Staff-Level IMF Deal in Key Step
- Argentina reaches staff-level deal after two years of talks
- Agreement now faces vote before country’s divided congress
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Argentina inked an agreement with the staff of the International Monetary Fund on a new program Thursday, a key step toward finalizing a $45 billion deal after almost two years of negotiations.
The staff-level accord, which includes commitments to narrow the government’s fiscal deficit and money-printing while unwinding energy subsidies, will seek to address the country’s “persistent” high inflation and improving public finances, according to a statement released by the IMF.