Friday, 8 June 2018

International Monetary Fund agreed to lend Argentina up to $50bn



The International Monetary Fund has agreed to lend Argentina up to $50bn (£37.2bn) as the country seeks to bolster its struggling economy.

 
The three-year agreement must still be approved by the IMF board.


Argentina, which has been plagued by economic problems for years, asked for assistance from the IMF on 8 May after its currency hit an all-time low.


The country has committed to tackle its double digit inflation and public spending as part of the deal.


"The [Argentine] authorities have indicated that they intend to draw on the first tranche of the arrangement, but subsequently treat the loan as precautionary," the IMF said in a statement on Thursday.





BBC      News.