Argentina and the IMF have agreed a last-minute deal to prevent the troubled South American economy entering into arrears with the fund, offering some stability ahead of October’s crucial presidential elections. After three months of intense negotiations, slowed by the Peronist government’s reluctance to implement unpopular policies in the run-up to the polls, the IMF’s technical team on Friday agreed to disburse an additional $7.5bn of its loan programme.
The fund will release $4bn it had withheld at a June programme review and almost $3.5bn that was previously subject to a September assessment.
The IMF decided to combine the two reviews because the first was so delayed that data for the later one is already available.
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