The Strategist

IMF approves $5.4 billion tranche to Argentina

04/03/2023 - 03:33

An additional infusion of $5.4 billion for Argentina has been authorized by the International Monetary Fund (IMF).

Alex Proimos
Alex Proimos
"The Fourth Review of the Extended Fund Facility (EFF) Agreement for Argentina has been concluded," reported the IMF Executive Board. 

The resolution of the board permits an immediate disbursement of $5.4 billion ($4 billion in SDRs), bringing the overall amount disbursed under the agreement to approximately $28.9 billion, the organization said in a release.

Argentina received a $50 billion stand-by loan from the IMF in June 2018 to help it close its budget imbalance in the face of skyrocketing inflation. The fund decided to raise the financing program's size to $56.3 billion in October 2018. But in 2021, the amount was reduced to $44 billion.