Argentina and the International Monetary Fund agreed on Thursday on a three-year $50 billion stand-by financing deal aimed at strengthening the South American country’s economy and helping it fight inflation.
The IMF said the staff-level agreement will be subject to approval by the international body’s executive board, which will consider Argentina’s economic plan in the coming days.
In Argentina, where many have criticized the Government for turning to the IMF, Finance Minister Nicolas Dujovne said the funds would be available after the executive board meets June 20.