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IMF Approves $44 Billion Argentinian Loan Program

The International Monetary Fund approved Argentina’s fourth review under its $44 billion loan program on Friday, the lender confirmed. This means that the South American nation will receive a disbursement of $5.4 billion.

With the latest disbursement, Argentina has received a total of $28.9 billion thus far through the IMF’s loan program. A central bank source reported that the aforementioned funds have already arrived.

“The disbursement from the Fund has entered and it will be reflected in the reserves, which rose more than $2.5 billion as a net effect after payments were made,” the source said.

Although the IMF approved Argentina’s latest review, it has not yet addressed the Latin American nation’s request to ease reserve targets. Currently, Argentina is struggling to meet these milestones given the recent historic drought that has hit the country, severely affected its grain exports. The IMF did confirm, however, that it would later release a statement addressing this concern.

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