IMF eases Argentina loan terms
Fund approves $5.4 billion payout and lowers reserves targets as drought conditions bite
The International Monetary Fund released another $5.4 billion to Argentina on March 31, the fourth disbursement from a 30-month loan programme. The loan provides $43 billion at current exchange rates.
The IMF’s executive board approved a request from Argentine authorities to lower a target for the accumulation of net international reserves. Argentine authorities told the fund that drought was suppressing activity in the vital agricultural sector, the source of much of Argentina’s hard currency
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