IMF delays Argentine loan

The International Monetary Fund has delayed approval of a $728 million loan payment to Argentina, forcing the country to draw on central bank reserves to pay back multinational lenders.

Argentina, which is in default on almost $100 billion of debt, tapped about $883 million of reserves to pay the IMF for principal and interest since the fund last approved a disbursement in March. The World Bank is waiting for the IMF to complete its second quarter review of Argentina's economic performance be

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