Argentina and the International Monetary Fund have reached an agreement for a three-year, $50 billion standby arrangement. The government says it sought financing to provide a safety net and avoid the frequent crises of Argentina's past.
Inflation has hit 25 percent, the Argentine peso has lost about 20 percent of its value against the US dollar, and the federal budget is in deficit. The government hopes the IMF loan will get the country back on track.
With trade conflicts brewing around the world, this weekend’s G20 meeting of finance ministers in Argentina might not be the most fun place to be on the planet. Yet critical questions will be on the agenda.
The International Monetary Fund has announced another financial boost for Greece in support of making the crisis-hit country's debt more sustainable, but continues to insist on a debt cut from the EU.
IMF chief Christine Lagarde says they have yet to decide whether to join the next bailout payment for Greece. The fund's participation is seen as a condition for Germany to unblock new funds to the debt-riddled country.
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