Argentina gets biggest loan in IMF's history at $57bn

Argentina gets biggest loan in IMF's history at $57bn
 

Argentina has received the biggest loan package ever from the International Monetary Fund, aimed at shoring up the country’s ailing finances: a whopping $57.1bn that will be disbursed over the next three years.
“This is the biggest loan in the history of the IMF,” said the fund’s director, Christine Lagarde, on Wednesday as the final loan agreement was announced in New York.
The loan – $15bn of which has already been received by Argentina – comes with stringent conditions, including a commitment to a zero deficit for 2019.
Argentina had initially secured $50bn in a deal worked out in June... read more

 
27 September 2018 in World News, Views: 76
Source: Guardian
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