Economy Minister Sergio Massa announced on Wednesday that Argentina will pay its US$2.6 billion October maturities to the International Monetary Fund (IMF) next week with funds obtained from the currency swap with China. Argentina had already used yuan to pay the lender in June. This includes an economic program that Argentina must comply with to receive disbursements every three months, which the government uses to pay the previous debt. IMF staff and Argentina had reached an agreement late in July for the fifth and sixth reviews of the program. Massa has consistently held the IMF responsible for “imposing” August’s devaluation.

Source: Bueno Aires Herald October 19, 2023 12:43 UTC