IMF Board Approves $7.5 Billion Disbursement to Argentina
- Massa will deliver a press conference at 6 p.m. DC time
- Board approved fifth and sixth reviews of $44 billion program
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The International Monetary Fund’s executive board approved a $7.5 billion disbursement to Argentina on Wednesday, extending a financial lifeline to the cash-strapped government ahead of a tight presidential race.
The cash payments are part of a refinanced $44 billion program, the lender’s largest, that endured months of negotiations amid political uncertainty and wrangling over economic policy. The board decision follows a July preliminary agreement that eased some aspects of the deal, as Argentina struggled to meet its targets amid a severe drought that has battered crop exports and the economy.