The aid plan should allow the country to “strengthen debt sustainability, fight against high inflation, increase reserves, close social gaps,” the institution said in a statement.
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The board of directors of the International Monetary Fund (IMF) approved, on Friday March 25, an aid program for Argentina of 44 billion dollars with an immediate disbursement of 9.65 billion, the institution announced. in a press release.
The aid plan must last thirty months. It is granted under “extended credit facility” of the IMF and should enable Argentina to “strengthen debt sustainability, fight high inflation, increase reserves, close the country’s social gaps”announced the IMF.
“While an economic and employment recovery is underway, Argentina continues to face exceptional economic and social challenges,” stressed IMF Managing Director Kristalina Georgieva, citing “a depressed per capita income, high levels of poverty, persistently high inflation, a heavy debt burden and low external reserves”.