IMF Press Release

PRESS RELEASE - IMF Approves Transitional Stand-By Credit Support for Argentina, 24 January.

The Executive Board of the International Monetary Fund (IMF) approved today an eight-month, SDR 2.17 billion (about US$2.98 billion) Stand-by Credit Arrangement for Argentina that is designed to provide transitional financial support through the period ending August 31, 2003, and which replaces Argentina's previous arrangement with the Fund (see Press Releases No. 01/37, No. 01/3 and No. 00/17). This a