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IMF to Discuss Potential $20bn Loan for Argentina
March 24, 2025
The IMF will discuss a potential $20bn loan for Argentina next week, focusing on a 4Y extended fund facility (EFF) worth ~15bn Special Drawing Rights (SDR), as per Bloomberg News. The Argentine government recently passed a decree supporting the new IMF program, which aims to bolster central bank reserves and possibly ease capital controls. The loan would have a 10Y repayment period with a 4.5Y grace period and would help pay off Treasury debt to the central bank. Argentina, facing negative foreign currency reserves, is the IMF’s largest borrower, having already received 22 loans, including a $44bn deal in 2022. IMF spokesperson Julie Kozack stated that progress is being made in negotiations with Argentina, but any final agreement requires approval from the IMF’s Executive Board.
Argentina’s dollar bonds were trading stable, with its 5% 2038s at 67.9, yielding 7.9%.
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