IMF to look at strengthening Argentina loan, accelerating payments
IMF chief Christine Lagarde said Wednesday she would ask her staff to look into accelerating payments to Argentina and otherwise strengthening the loan program amid an unexpected market reaction that has battered the economy.
Given the “more adverse international market conditions, which had not been fully anticipated,” Lagarde said the Washington-based lender will “work with the Argentine authorities to strengthen the Fund-supported arrangement and to reexamine the phasing of the financial program.”
The IMF in June approved a $50 billion, three-year standby loan to Argentina.
