Argentina agrees with the IMF a loan of US $ 50,000 million

Argentina announced on Thursday that it agreed with the International Monetary Fund (IMF) on a loan for US $ 50 billion which will be used to lower the country’s deficit and inflation. The Argentine government wants the credit line to help it respond to the collapse of the peso. The agreement is subject to final approval by the IMF Executive Board, which will examine Argentina’s economic plan in the coming days.

The news was confirmed on Thursday by Argentine Finance Minister Nicolás Dujovne and the president of the Argentine Central Bank, Federico Sturzenegger, after a meeting held by the board of the international organization.