International Monetary Fund Boosts Aid To Argentina From $50Bln To $57Bln Through 2021

MOSCOW (Pakistan Point News / Sputnik - 27th September, 2018) The International Monetary Fund said it had reached an agreement with Argentina's authorities to increase funding to the Southern American country under the Stand-By Arrangement (SBA) from $50 billion to $57 billion through 2021.

"The International Monetary Fund staff and Argentina authorities have reached an agreement on a set of strengthened economic policies that will underpin the 36-month Stand-By Arrangement (SBA) approved on June 20, 2018. Subject to IMF Executive board approval, the revised Arrangement front loads IMF financing, increasing available resources by US$19 billion through the end of 2019, and brings the total amount available under the program to US$57.1 billion through 2021," the statement, published on Wednesday, read.