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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An interactive map showcasing the Christian heritage of Caucasian Albania in Garabagh was presented in London this week, highlighting Azerbaijan’s efforts to preserve and promote the religious and cultural legacy of the region.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 22nd May, covering the latest developments you need to know.
Ukrainian President Volodymyr Zelenskyy has rejected a German proposal to grant Ukraine “associate” membership of the European Union, warning it would leave Kyiv without a meaningful voice in the bloc.
The United States is stepping up its efforts to rebuild ties with India, with Secretary of State Marco Rubio using his visit to New Delhi to promote energy cooperation.
At least 90 miners have died in a gas explosion at a coal mine in northern China, in what is the country's deadliest mining accident in 17 years. The blast occurred on Friday at 19:29 local time (11:39 GMT) at the Liushenyu coal mine in Shanxi province, according to Chinese state media.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 23rd May, covering the latest developments you need to know.
SpaceX has completed a successful test flight of Starship V3, the largest and most powerful rocket in history.
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