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Argentina's Milei wins Congress green light for new IMF loan
20 Mar 2025, 09:18
BUENOS AIRES, March 20, 2025 (BSS/AFP) - Argentina's Congress on Wednesday gave President Javier Milei the green light to negotiate a new IMF loan agreement, on top of the $44 billion Buenos Aires already owes the lender.
Milei asked lawmakers on March 11 to approve a new 10-year loan to boost the central bank's foreign currency reserves and cover looming debt payments.
The amount of the prospective loan to South America's second-biggest economy -- which has been bailed out by the International Monetary Fund 22 times, despite several debt defaults -- has not yet been disclosed.
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Argentina has one of the highest inflation rates in the world.
More:
https://www.bssnews.net/business/256526