US EditionUS Withdrew Nearly $900mln From IMF as Argentina Faced Debt Payment
8 Articles
8 Articles
The United States withdraws $900 million in Special Drawing Rights from the IMF to support Argentina in a debt crisis that tests its reserves and multilateral governance, a movement that raises many questions about equity and international politics.
The IMF is cautious about the use of swaps with the US to add reserves. While Milei strengthens his alliance with Trump, the organization does not yet endorse it.
On 1 November, Argentina had a crucial payment to the International Monetary Fund (IMF). It had to remove a portion of US$ 840 million of the aid from the country. And, therefore, surprisingly, at the evenings of this critical date, Argentina's account in the IMF — the assets known in the jargon of multilateral agencies as "special rights of savings", or SDR in the currency — increased in US$ 870 million, making it possible. However, it was stil…
The United States withdrew nearly $900 million of its reserves in the International Monetary Fund, while Argentina received an equivalent amount before a crucial debt payment, in which analysts attribute to Washington's effort to support the Milei government.The US "special drawing rights" (SDRs) in the IMF, funds that can be used to pay debt or exchange for dollars, euros and other currencies, decreased by $870 million last month, according to …
SDRs are assets created by the IMF that are distributed to countries in proportion to their quota. Nations can channel their SDR holdings to other countries if requested.
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