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Financial News: ARGENTINA: Government Adds US$ 5.65 Billion To Loan

ARGENTINA: Government Adds US$ 5.65 Billion To Loan With IMF

06/09/2018 - 08:53:00 (RTTNews)

(RTTNews) - The Argentinean government has announced another reinforcement for the financing of its economic program with new international credit lines for a total of US$ 5.65 billion.

These resources are added to the US$ 50 billion agreed with the International Monetary Fund (IMF), which should be available from June 20. The standby agreement with the IMF was agreed for a period of 36 months.

The second credit line was arranged with the Inter-American Development Bank (IDB), the World Bank and the CAF - Development Bank of Latin America, and should be disbursed through the next 12 months.

"In the rest of the year and in 2019, this financing doubles the usual disbursement of these agencies in the country, which are in addition to the financing that follows the government's agreement with the IMF," the Finance Ministry said in a statement.

Of the total of these new lines, the IDB made US$ 2.5 billion available to Argentina, the World Bank US$ 1.75 billion and the CAF agreed to credit lines for US$ 1.4 billion.

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