BUENOS AIRES (Reuters) – The International Monetary Fund board said on Friday it would ship $5.4 billion in cash to Argentina after approving a fourth review of a standby credit deal with the crisis-stricken South American nation.
The latest installment is part of a $57 billion IMF financing agreement approved last year that included unpopular spending cuts that have hammered households and businesses already struggling with recession and high inflation.
Argentine - Authorities - Commitment - Policy - Program
“The Argentine authorities continue to show a strong commitment to their economic policy program, meeting all the applicable targets under the Fund-supported program,” the IMF said in a statement.
The fresh cash could help embattled President Mauricio Macri as he seeks to calm markets and boost investor confidence ahead of the first round of presidential elections...
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