🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

IMF agrees to $4.7 billion support package for Argentina

EditorRachael Rajan
Published 01/11/2024, 10:02 AM

WASHINGTON - The International Monetary Fund (IMF) has reached an agreement to provide Argentina with a $4.7 billion support package. This financial assistance is part of a broader $44 billion bailout plan that began in 2018.

Argentina's recently inaugurated President Javier Milei, who assumed office in December, has been proactive in establishing stringent fiscal measures. These include implementing budgetary constraints and enhancing tax policies to stabilize the nation's economy.

Economy Minister Luis Caputo clarified that this support represents a continuation of existing programs rather than a new loan. Argentina is currently awaiting the reactivation of its Extended Fund Facility (EFF) program with the IMF, which is subject to approval by the IMF Executive Board. The decision is anticipated by the end of January.

The EFF program is designed to support countries experiencing serious payment imbalances because of structural impediments or slow growth and an inherently weak balance-of-payments position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.