By Jorgelina do Rosario
NEWYORK/LONDON – The Worldwide Financial Fund’s government board on Friday authorized a $45 billion program for Argentina after greater than a yr of negotiations, two sources with direct data stated, permitting the South American grains exporter to keep away from a expensive default with the Washington-based lender.
The settlement, which follows a staff-level settlement earlier in March, marks the twenty second IMF program for Argentina because it joined the Fund in 1956. It replaces a failed $57 billion program from 2018, the biggest within the Fund’s historical past, for which Argentina nonetheless owes over $40 billion.
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