IMF Approves Argentina Loan Review, to Disburse $3.8 Billion
- South American nation passes second executive board review
- IMF’s Georgieva warns against ‘multiple currency practices’
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The International Monetary Fund approved the second review of Argentina’s $44 billion program, passing a key hurdle even as Managing Director Kristalina Georgieva warned the government against creating multiple exchange rates.
The IMF’s executive board granted a disbursement of about $3.8 billion, which will cover upcoming payments Argentina owes the institution from a previous program that failed to stabilize the economy.