IMF says independent central bank is key to Argentine recovery

Christine Lagarde

The executive board of the International Monetary Fund approved its three-year standby arrangement for Argentina on June 20. The IMF stressed that an independent central bank and a flexible exchange rate will be key factors for the programme to succeed.

The standby arrangement amounts to 35.379 billion in special drawing rights, or approximately $50 billion. With immediate effect, the fund transferred $15 billion to Argentina’s Treasury, of which $7.5 billion will be used to finance the

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