Argentina and the International Monetary Fund (IMF) publicly announced an agreement yesterday to restructure the record USD 44 billion loan signed in 2018. It comes only days before the March 22 deadline that could have sent Argentina into an unprecedented default with multilateral credit institutions.
The country will have to jump through multiple fiscal and monetary hoops, as well as respect specific policy requirements, in order to receive fresh funds to face its 2022-2024 payment schedule. In practice, this means that Argentina will buy time until the maturities from the new arrangement start kicking in, between 2026 and 2034.
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