Argentina targets $20 billion IMF deal to bolster markets, FX

The Argentine government's objective is to strengthen foreign exchange reserves, in the context of strong pressure on the peso's exchange rate.

Argentina asked the International Monetary Fund (IMF) for a new loan of US$ 20 billion, announced this Thursday the Minister of Economy at a time when the country suffers a strong exchange rate pressure on the peso.The program must still be approved by the board of the financial agency, with which the neighbor country already signed in 2018 an agreement for US$ 44 billion that represented its greatest indebtedness.In addition to that request who…

Argentina secures $20B IMF deal, aims to boost Central Bank reserves to $50B

Argentina’s Economy Minister Luis Toto Caputo announced Thursday that the loan negotiated with the International Monetary Fund (IMF) amounts to US$ 20 billion disbursement from the IMF, which, in addition to further borrowing from the Interamerican Development Bank (IDB), the World Bank, and the CAF would leave the Central Bank's (BCRA) reserves around US$50 billion.

The head of the IMF authorized the minister to make known the amount of the agreement.It was to decompress the demand for dollars and in the face of doubts about the foreign exchange policy.Roces of all political colors in the definition of candidates and strategies for the legislative ones.

Argentina Targets $20 Billion IMF Deal to Bolster Markets, FX

Argentina Seeks Large Portion of $20 Billion IMF Deal Up Front

Argentina is seeking an upfront payment representing a large portion of its future $20 billion program with the International Monetary Fund, as negotiations now focus on the size and timing of disbursements, according to people familiar with the matter.