IMF Approves Argentina's Debt Agreement Worth 54 Trillion Won
[Asia Economy Reporter Bu Aeri] The International Monetary Fund (IMF) has given final approval to an agreement with the Argentine government regarding $44 billion (approximately 53.7 trillion KRW) in debt.
On the 25th (local time), the IMF announced that its board had approved a 30-month extended financing agreement for Argentina. Accordingly, $9.66 billion (approximately 11.7 trillion KRW) will be disbursed to Argentina immediately.
The approved program replaces the $57 billion (approximately 69.6 trillion KRW) bailout program agreed upon by the IMF and the Argentine government in 2018.
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The Alberto Fernandez administration, which took office in December 2019, criticized the negotiations with the IMF conducted by the previous government and initiated new talks. Since 2020, both sides discussed refinancing methods for the $44 billion already disbursed, and after difficulties, reached an agreement last January.
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