US Would Support IMF Speeding Up Loan Funds to Argentina
- Backing is contingent on Argentina negotiating with IMF staff
- Nation seeking to increase disbursement in June installment
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The Biden administration would support speeding up disbursements from Argentina’s $44 billion program with the International Monetary Fund, if the nation’s authorities can successfully negotiate a new schedule with the lender, according to US officials familiar with the matter.
Based on the current program, Argentina is scheduled to receive $10.6 billion from the IMF between June and December. Yet the South American nation, pressured by dwindling reserves, out-of-control inflation and a record drought, is seeking to advance some or all of that financing from the IMF to June.