The IMF announced on Friday, June 24, the allocation of $ 4 billion to Argentina after completing the first review of a major loan program with the country. “In the face of growing global uncertainty, the Board has assessed that all current performance benchmarks մարտի the March 2022 Indicative Targets have been met, that the initial structural progress.”commented the IMF.
Argentina, which is coming out of a three-year recession, is facing high levels of poverty and rapid inflation. The International Monetary Fund (IMF) on March 25 approved a $ 44 billion bailout plan for Argentina over a 30-month period, of which $ 9.65 billion was disbursed immediately. This is the 13th agreement between the IMF and Argentina since the return of democracy in 1983.
The agreement between the “Fund” of Argentina envisages a number of macroeconomic measures to control the country’s chronic inflation (50.9% in 2021) and to reduce the budget deficit (3% of GDP in 2021) by 2025. balance: All under regular IMF monitoring. . Instead, the debt will not be repaid until 2026, after a four-year grace period that will run until 2034. Time, according to Buenos Aires, to anchor sustainable growth (10.3% in 2021). Revenue generator.
Source: Le Figaro
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