Posted 2/1/2024, 3:03:19 AM
IMF Approves $4.7 Billion Loan Installment for Argentina, Commends Economic Reforms Amid Protests
- IMF approves $4.7 billion loan disbursement for Argentina, praises government's "bold actions" to stabilize economy
- Loan is part of $44 billion IMF program to support President Milei's austerity measures and economic reforms
- Reforms aim to restore stability, address impediments to growth, but face backlash and protests
- IMF expects contraction of 2.8% in Argentina's GDP in 2024 due to impact of reforms
- IMF extends program to end of 2024, adjusts disbursement schedule within existing envelope