Argentinean central bank okays $7.5 billion loan to state

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The Central Bank of Argentina on Tuesday approved a transfer of $7.504 billion of central bank reserves as a loan to the country's economy ministry, so that Buenos Aires can repay bondholders.

The loan will have a ten-year maturity, with interest to be paid at the same rate as that which the central bank receives on its reserves, unless that amounts to more than the one-year London Interbank Offered Rate (Libor) for dollar loans minus one percentage point.

Mercedes Marcó del Pont, the governor o

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