IMF reaches agreement with Argentina to release US$5.4b loan tranche

[WASHINGTON] The International Monetary Fund (IMF) on Friday reached an agreement with Argentina that will release the next US$5.4 billion disbursement under the loan program aimed to help stabilize the South American nation's economy.

The IMF board must approve the fourth review of the country's performance before Buenos Aires will have access to the funds.

"Argentina's economic policies are yielding results," acting IMF chief David Lipton said in a statement.

"I fully support Argentina's efforts to bolster confidence, lay the foundation for sustainable growth and protect the most vulnerable."

AFP