Argentina, which faces an economic crisis on Wednesday, received an additional $ 7 billion from the International Monetary Fund (IMF) as the payment schedule accelerated to stabilize the third Latin American economy.
Argentine Finance Minister Nicolas Dugovny told a joint press conference in New York with IMF Director Christine Lagarde that the loan granted by the IMF in June "has been increased from 50 to 57.1 billion dollars," pointing out that "payments scheduled for the remainder of 2018 And 2019 increased by 19 billion dollars. "
By the end of this year, Argentina will receive 13 billion instead of the six billion that was set in the first agreement reached in June. For 2019, Buenos Aires could count on $ 22 billion instead of 11. "This agreement will allow us to ensure the stability and consolidation of the economy and leave the turmoil behind us," he said.
Lagarde stressed that this new agreement would ensure "restoring confidence". The agreement between Argentina and the IMF comes at a time when the peacock appears to have entered a stabilization phase after two cash crises between April and May and then between August and September, which led to the loss of more than 50 percent of its value against the dollar.
Argentine Finance Minister Nicolas Dugovny told a joint press conference in New York with IMF Director Christine Lagarde that the loan granted by the IMF in June "has been increased from 50 to 57.1 billion dollars," pointing out that "payments scheduled for the remainder of 2018 And 2019 increased by 19 billion dollars. "
By the end of this year, Argentina will receive 13 billion instead of the six billion that was set in the first agreement reached in June. For 2019, Buenos Aires could count on $ 22 billion instead of 11. "This agreement will allow us to ensure the stability and consolidation of the economy and leave the turmoil behind us," he said.
Lagarde stressed that this new agreement would ensure "restoring confidence". The agreement between Argentina and the IMF comes at a time when the peacock appears to have entered a stabilization phase after two cash crises between April and May and then between August and September, which led to the loss of more than 50 percent of its value against the dollar.
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