The Strategist

Argentina and IMF tentatively agree on new borrowings

09/20/2022 - 10:37

According to a message by the IMF, the Argentinean government and IMF representatives have achieved a preliminary agreement to provide the country with a new tranche of financial aid totaling $3.9 billion in Special Drawing Rights (SDR).

Ken Walker
Ken Walker
The second review under Argentina's 30-month extended funding term has been agreed upon at the level of the Argentine authorities, according to the statement.

"The IMF Executive Board, which is scheduled to meet in the upcoming weeks, must endorse the accord. Argentina will have access to roughly $3.9 billion once the review is over," IMF commented.

The international group claims that "decisive action" by the Argentine government is assisting in rebuilding the nation's foreign reserves and strengthening macroeconomic stability.