IMF to Loan Argentina as Much as $10.8 Billion This Year
- Argentina reaches deal with IMF staff to unlock $7.5 billion
- Money is needed to repay IMF, shield country from turbulence
Plaza Libertad square in Santiago del Estero, Argentina
Photographer: Luis Robayo/AFP/Getty Images
This article is for subscribers only.
The International Monetary Fund will give Argentina as much as $10.8 billion in loans for the rest of the year as part of a refinancing agreement that will help the cash-strapped nation to navigate a turbulent period ahead of presidential elections.
The first payment of $7.5 billion will be made in August, after approval by the IMF’s executive board in the second half of the month, the Fund said Friday in a statement, confirming its staff had reached an agreement with the government of outgoing President Alberto Fernandez.