The Development Bank of Latin America (CAF, its Spanish acronym) approved a short-term US$1 billion loan for Argentina Friday night, which the country will use to pay part of its upcoming maturities with the International Monetary Fund (IMF). Earlier that day, the IMF and Argentina reached a staff-level agreement granting the country access to a US$7.5 billion disbursement in the second half of August. Consulting firms chime in on the IMF-Argentina dealOn Friday, the IMF announced that the fifth and the sixth reviews of the program implementation were approved simultaneously. According to consulting firms in Argentina, the approval means that the IMF supported some of the policies implemented by the country. The blue-chip swap rate is the implicit exchange rate obtained by investors who buy shares or bonds in pesos and sell them in dollars on the international market.

Source: Bueno Aires Herald July 30, 2023 01:45 UTC