Argentina Says IMF Deal Would Include August Disbursement
- IMF would disburse funds to government in August and November
- Argentina needs dollars to repay IMF, avoid peso devaluation
Argentina needs the money to repay previous debts owed to the Washington-based lender after a record drought cost the country $20 billion of agriculture exports.
Photographer: Natalia Favre/BloombergThis article is for subscribers only.
Argentina Economy Minister Sergio Massa said Sunday night that the International Monetary Fund would disburse funds to the government in August and November after a staff-level agreement of its $44 billion financing program is reached sometime this week.
“There’s a very big package of disbursements in August and an additional one in November. It’s a very significant number for Argentina,” Massa said on the C5N TV network, adding that he wants the IMF to announce the exact figures.