Buenos Aires: Argentina received $15 billion, the first tranche of a $50 billion loan from the International Monetary Fund to help stabilise its fragile economy, the South American nation´s central bank said.
Following a currency crisis in April and May, the IMF announced the $50 billion standby loan in early June after Latin America´s third largest economy sought help to bolster market confidence. The peso plunged to a record low this month, and since the start of the year the currency has dropped more than 30 percent against the dollar. On Wednesday the Washington-based IMF approved the $50 billion aid package. It said the first $15 billion will contribute to budget support while the $35 billion balance will be "precautionary."
The fund said that its assistance would back efforts by Buenos Aires to put public debts on a sustainable path, reduce the need for financing and tackle inflation while strengthening the central bank´s independence, while maintaining social spending.
In this picture, the PCJCCI logo can be seen on September 1, 2022. — Facebook/Pakistan China Joint Chamber of...
The logos of the World Bank and IMF. — AFP FileNEW YORK: The United States is the MVP of GDP. That was the...
A security guard sits in front of a wall with signs and slogans at the operation building at the Pakistan Steel Mills ...
A worker cleans the entrance to the headquarters of Bank Indonesia, the nation's central bank, in Jakarta, Indonesia....
The MCB's logo is seen on a wall outside the bank's head office. — MCB websiteKARACHI: MCB Bank Limited on...
Stack of Rs5,000 and Rs1,000 notes. — AFP/FileKARACHI: The rupee lost ground against the dollar in both currency...