FOREX TradingCharts.com

Financial News: ARGENTINA: IMF Approves Stand-by Agreement For US$ 50

ARGENTINA: IMF Approves Stand-by Agreement For US$ 50 Billion

06/20/2018 - 16:02:00 (RTTNews)

(RTTNews) - The Executive Board of the International Monetary Fund (IMF) approved an agreement with Argentina in the framework of the three-year stand-by agreement for US$ 50 billion - or about 1,110% of the quota of Argentina in the Fund.

The decision allows the authorities to make an immediate release of US$ 15 billion. Half of that amount would go to budget support. The remainder should be available throughout the agreement term, subject to quarterly reviews by the executive board of the Fund.

"The authorities have announced the intention to get the first tranche of the agreement, but later they should treat the rest of the agreement as a precautionary measure," the IMF said in a statement.

According to the Fund, the economic plan of the Argentinean authorities backed by the stand-by agreement seeks to restore market confidence through a coherent macroeconomic program that reduces financing needs, channels Argentina's public debt to a downward path and strengthens the plan to curb inflation through more realistic inflation targets and the strengthening of central bank independence.

"It should be noted that the plan includes measures to protect the most vulnerable segments of society by keeping social spending and, should social conditions deteriorate, opening room to increase spending on the Argentinean social protection network," added the IMF.

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


UK Budget Deficit Narrows In June (08 min(s), 17 sec(s) ago)
(RTTNews) - The UK budget deficit narrowed in June, the Office for National Statistics said Friday ...Full Story»

Hungary's Gross Wage Growth Weakens In May (01 hr(s), 45 min(s), 17 sec(s) ago)
(RTTNews) - Hungary's average gross earnings grew at the slowest pace in more than a year in M ...Full Story»

Dutch Consumer Confidence Remains Stable In July (02 hr(s), 10 min(s), 17 sec(s) ago)
(RTTNews) - Dutch consumer confidence remained unchanged in July, figures from the Central Bureau ...Full Story»

Germany's Producer Price Inflation At 9-Month High (02 hr(s), 36 min(s), 17 sec(s) ago)
(RTTNews) - Germany's producer prices climbed at the fastest pace in nine months in June, Dest ...Full Story»

New Zealand Credit Card Spending Rebounds In June (03 hr(s), 29 min(s), 17 sec(s) ago)
(RTTNews) - New Zealand credit card spending recovered in June, figures from Reserve Bank of New Z ...Full Story»

Japan All Industry Activity Rises Marginally In May (04 hr(s), 11 min(s), 17 sec(s) ago)
(RTTNews) - Japan's all industry activity grew only marginally in May after recovering in Apri ...Full Story»

European Economics Preview: UK Public Sector Finance Data Due (04 hr(s), 33 min(s), 17 sec(s) ago)
(RTTNews) - Public sector finance data from the UK is due on Friday, headlining a light day for th ...Full Story»

Japan Inflation Rises 0.7% On Year In June (44 min(s), 43 sec(s) ago)
(RTTNews) - Consumer prices in Japan were up 0.7 percent on year in June, the Ministry of Internal ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

UK Budget Deficit Narrows In June

07/20/2018 - 04:54 AM (RTTNews)
(RTTNews) - The UK budget deficit narrowed in June, the Office for National Statistics said Friday ...Full Story>>

Hungary's Gross Wage Growth Weakens In May

07/20/2018 - 03:17 AM (RTTNews)
(RTTNews) - Hungary's average gross earnings grew at the slowest pace in more than a year in M ...Full Story>>

Dutch Consumer Confidence Remains Stable In July

07/20/2018 - 02:52 AM (RTTNews)
(RTTNews) - Dutch consumer confidence remained unchanged in July, figures from the Central Bureau ...Full Story>>

Germany's Producer Price Inflation At 9-Month High

07/20/2018 - 02:26 AM (RTTNews)
(RTTNews) - Germany's producer prices climbed at the fastest pace in nine months in June, Dest ...Full Story>>

New Zealand Credit Card Spending Rebounds In June

07/20/2018 - 01:33 AM (RTTNews)
(RTTNews) - New Zealand credit card spending recovered in June, figures from Reserve Bank of New Z ...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.