In support of President Javier Milei’s vigorous attempts to turn around the Latin American nation, the International Monetary Fund approved a new $20 billion bailout for Argentina on Friday, which would last for four years.
“The program is expected to help catalyze additional official multilateral and bilateral support, and a timely re-access to international capital markets,” the International Monetary Fund said in a statement. Due to the executive board’s decision, Argentina can now immediately receive a $12 billion initial payment. The program’s first evaluation is set for June of this year.
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