Argentina has finalized a $20 billion IMF deal to stabilize reserves and repay existing debt amid severe economic challenges.
Argentina’s Economy Minister Luis Caputo has announced a $20 billion loan agreement with the International Monetary Fund (IMF).
The South American nation, grappling with triple-digit inflation and mounting debt has been in negotiations with the IMF for months. Until now, neither side had disclosed the size of the planned deal.
The announcement is the first official confirmation of the agreement’s value, following talks between the IMF and President Javier Milei’s administration.
Argentina remains the IMF’s largest borrower and is still repaying a $44 billion loan from 2022. An earlier program in 2018 under former President Mauricio Macri originally totaled $57 billion.
Of the new $20 billion, approximately $8 billion will bolster central bank reserves, while $12 billion will go toward servicing existing IMF debt. The agreement includes a ten-year repayment period with a four-and-a-half-year grace period.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 23rd of July, covering the latest developments you need to know.
U.S. strikes on Iran entered a 12th consecutive night, while Yemen's Houthis said they attacked two Saudi oil tankers in the Red Sea, urging President Donald Trump to warn Tehran it would be held responsible for any future Houthi attacks.
India and Myanmar are expanding cooperation on rare earths as New Delhi seeks to reduce its reliance on China for critical minerals. The move follows a series of Indian visits to Myanmar and comes amid growing global competition for resources used in clean energy and high-tech industries.
Aleksandar Vučić's visit to Kyiv on 15 July appeared to send a geopolitical signal. But the significance of the trip lies less in the journey itself than in the limits Serbia carefully observed.
The owner of a Michelin two-star restaurant in South Korea is facing a year in prison for serving a dessert topped with black ants.
Iranian President Masoud Pezeshkian and Iraqi Prime Minister Ali al-Zaidi signed a series of agreements in Tehran on Thursday aimed at strengthening bilateral trade, transport links and security cooperation, highlighting the growing strategic partnership between the neighbouring countries.
Jürgen Klopp has been named the new head coach of Germany's national football team by the German Football Association (DFB).
Member states of the International Criminal Court are expected to decide on Friday whether to remove chief prosecutor Karim Khan over allegations of sexual misconduct.
Spain has declared a national emergency and evacuated more than 10,000 people after uncontrolled wildfires reached the outskirts of Madrid. Emergency crews have rescued residents as multiple blazes continue to spread across the region.
A deal signed by the U.S. and Saudi Arabia which would allow the Gulf kingdom to develop a civilian nuclear programme will only take effect if Riyadh normalises relations with Israel, President Donald Trump has said.
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