National

Argentina and the International Monetary Fund reached a three-year, $50 billion loan agreement Thursday, which is subject to IMF executive board approval. 

Why it matters: Argentina requested IMF (International Monetary Fund) assistance last month after the peso currency plunged, threatening the country’s ability to pay off its debt amid high inflation and anemic growth.

Argentina reaches $50 billion bailout deal with IMF

The country is facing deepening economic woes.

IMF Managing Director Christine Lagarde and Argentinian Economy Minister Nicolas Dujovne. Photo: Nicholas Kamm/AFP/Getty Images

World

Financial crises

Latin America and Latinos

Argentina and the International Monetary Fund <a class="gtmContentClick" data-vars-link-text="reached" data-vars-click-url="http://www.imf.org/en/News/Articles/2018/06/07/pr18216-argentina-imf-reaches-staff-level-agreement-with-argentina" data-vars-content-id="0fd482ef-ffd4-4250-bd5d-aa6357980eba" data-vars-headline="Argentina reaches $50 billion bailout deal with IMF" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="http://www.imf.org/en/News/Articles/2018/06/07/pr18216-argentina-imf-reaches-staff-level-agreement-with-argentina" target="_blank">reached</a> a three-year, $50 billion loan agreement Thursday, which is subject to IMF executive board approval. Why it matters: Argentina requested IMF (International Monetary Fund) assistance last month <a class="gtmContentClick" data-vars-link-text="after the peso currency plunged" data-vars-click-url="https://www.axios.com/argentina-currency-crisis-peso-hits-new-low-43fb7175-10a5-48b4-a62b-f151b47f42e3.html" data-vars-content-id="0fd482ef-ffd4-4250-bd5d-aa6357980eba" data-vars-headline="Argentina reaches $50 billion bailout deal with IMF" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/argentina-currency-crisis-peso-hits-new-low-43fb7175-10a5-48b4-a62b-f151b47f42e3.html" target="_self">after the peso currency plunged</a>, threatening the country’s ability to pay off its debt amid high inflation and anemic growth.

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Argentina reaches $50 billion bailout deal with IMF

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