FOREX TradingCharts.com

Financial News: ARGENTINA: Government To Request Stand-by Agreement From T

ARGENTINA: Government To Request Stand-by Agreement From The IMF

05/10/2018 - 15:34:00 (RTTNews)

(RTTNews) - The government of Argentina will ask the International Monetary Fund for a Standby Credit Facility (SCF), according to the country's Finance Minister, Nicol?s Dujovne. He is Washington and should meet with Christine Lagarde, the IMF's director-general.

According to the IMF, the SCF provides financial assistance to countries with short-term balance of payments needs. The agreement can range from 12 to 24 months and its use is limited to two and a half out of any five years. The deal may be extended or canceled, and following arrangements may be approved.

The IMF also says that a country with potential - but not immediate - balance of payments need can treat the credit line agreement as "precautionary" - the case of Argentina. In precautionary deals, there are no disbursements, but countries retain and accumulate the rights to request disbursements under the arrangement if a financing need were to arise at a later stage.

SCF arrangements treated as precautionary do not count toward the two and a half out of any five years' time limit on the use of the SCF referred to above.

Dujovne said that the credit line deal could be signed at the beginning of July.

In addition to the meeting with Lagarde, Dujovne will hold a meeting with the Under Secretary of International Affairs of the United States Department of the Treasury, David Malpass, since that country has the majority of the IMF's Board of Directors votes.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Index Unexpectedly Downwardly Revised In May (38 min(s), 27 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. unexpectedly saw a modest deterioration in the month of ...Full Story»

U.S. Durable Goods Orders Pull Back 1.7% In April, More Than Expected (01 hr(s), 27 min(s), 27 sec(s) ago)
(RTTNews) - With orders for transportation equipment pulling back sharply, the Commerce Department ...Full Story»

U.S. Durable Goods Orders Pull Back More Than Expected In April (02 hr(s), 10 min(s), 27 sec(s) ago)
(RTTNews) - With orders for transportation equipment pulling back sharply, the Commerce Department ...Full Story»

UK GDP Growth Slows On Consumer Spending, Business Investment (02 hr(s), 19 min(s), 27 sec(s) ago)
(RTTNews) - The UK economy expanded at the weakest pace in five years in the first quarter, on wea ...Full Story»

German Business Sentiment Stable At 1-Year Low (02 hr(s), 52 min(s), 27 sec(s) ago)
(RTTNews) - Germany's business confidence remained stable in May after falling for five straig ...Full Story»

Turkey Capacity Utilization Rises; Business Confidence Weakens (03 hr(s), 02 min(s), 27 sec(s) ago)
(RTTNews) - Turkey's capacity utilization rebounded in May, while business confidence weakened ...Full Story»

Poland Jobless Rate Falls As Expected In April (04 hr(s), 18 min(s), 27 sec(s) ago)
(RTTNews) - Poland's unemployment rate decreased for the third straight month in April, in lin ...Full Story»

UK Mortgage Approvals Rise In April (04 hr(s), 35 min(s), 27 sec(s) ago)
(RTTNews) - UK mortgage approvals increased in April after falling in March, data from UK Finance ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Index Unexpectedly Downwardly Revised In May

05/25/2018 - 10:10 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. unexpectedly saw a modest deterioration in the month of ...Full Story>>

U.S. Durable Goods Orders Pull Back 1.7% In April, More Than Expected

05/25/2018 - 09:21 AM (RTTNews)
(RTTNews) - With orders for transportation equipment pulling back sharply, the Commerce Department ...Full Story>>

U.S. Durable Goods Orders Pull Back More Than Expected In April

05/25/2018 - 08:38 AM (RTTNews)
(RTTNews) - With orders for transportation equipment pulling back sharply, the Commerce Department ...Full Story>>

UK GDP Growth Slows On Consumer Spending, Business Investment

05/25/2018 - 08:29 AM (RTTNews)
(RTTNews) - The UK economy expanded at the weakest pace in five years in the first quarter, on wea ...Full Story>>

German Business Sentiment Stable At 1-Year Low

05/25/2018 - 07:56 AM (RTTNews)
(RTTNews) - Germany's business confidence remained stable in May after falling for five straig ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.