IMF approves $44 billion in aid for Argentina

The board of directors of the International Monetary Fund (IMF) approved, on Friday March 25, an aid program for Argentina of 44 billion dollars with an immediate disbursement of 9.65 billion, the institution announced. in a press release.

The aid plan, for a period of 30 months, granted under “extended credit facility” of the IMF, should allow Argentina to “strengthen debt sustainability, fight high inflation, increase reserves, close the country’s social gaps”she announced.

“While an economic and employment recovery is underway, Argentina continues to face exceptional economic and social challenges,” stressed IMF Managing Director Kristalina Georgieva, citing “a depressed per capita income, high levels of poverty, persistently high inflation, a heavy debt burden and low external reserves”.

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