The International Monetary Fund expects China to reschedule payments on part of the $18 billion swap line that it has extended to Argentina, a key step that frees up cash amid President Javier Milei’s deep budget cuts and helps sustain the fund’s massive fiscal support program for the country. The rollover commitment clears a major obstacle for Argentina’s $43 billion IMF program, as the government must show it has so-called financing assurances to manage its enormous debt pile.
June 11, 2024
SOURCE: BNN BLOOMBERG
MORE COVERAGE:
https://www.bnnbloomberg.ca/imf-expects-china-to-reschedule-billions-in-argentina-s-debt-1.2083939