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Argentina Senate Approves IMF Deal as Default Deadline Nears

  • Senate voted 56-13 in favor of deal, clearing way forward
  • IMF board approval necessary to receive $9.8 billion
A demonstrator holds a sign during a protest against the International Monetary Fund (IMF) agreement as lawmakers vote on the bill outside the National Congress building in Buenos Aires, Argentina, on Thursday, March 17, 2022. 

A demonstrator holds a sign during a protest against the International Monetary Fund (IMF) agreement as lawmakers vote on the bill outside the National Congress building in Buenos Aires, Argentina, on Thursday, March 17, 2022. 

Photographer: Marcos Brindicci/Bloomberg
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Argentina’s senate backed the government’s $45 billion agreement with the International Monetary Fund, clearing the way for a final approval of the deal that’s crucial for the country to avoid an imminent default with the lender.

In a 56-13 vote with three abstentions, senators passed the legislation Thursday after a marathon session that ended past 11 p.m. in Buenos Aires. The plan now needs to be voted on by the IMF’s executive board to take effect. A date for the meeting has not been set yet, according to IMF spokesman Gerry Rice.