The executive board of the International Monetary Fund (IMF) unanimously approved a disbursement of US$7.5 billion to Argentina, albeit with comments from China and Japan. Minutes later, Economy Minister Sergio Massa met with IMF Managing Director Kristalina Georgieva at the organism’s Washington, D.C. headquarters. The release of the disbursement approved today was the culmination of a process of tense negotiations that continued for longer than expected. This Wednesday, as soon as it received the IMF disbursement, Argentina issued payment orders to return the loans to the CAF and Qatar, as well as putting money back into its currency swap with China. Thus, the government will constantly monitor the gap between the official dollar and the financial dollar rates, although it will also closely follow the MEP and blue chip swap exchange rates.

Source: Bueno Aires Herald August 24, 2023 03:38 UTC