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Argentina integrates IMF loan conditions into urgent decree
(MENAFN) According to officials, the government of Argentina, on Tuesday, has incorporated the conditions of its suggested loan deal with the International Monetary Fund (IMF) into a Necessity and Urgency Decree.
The President's Office revealed that the decree, issued in the Government Gazette, is going to be presented for endorsement to the National Congress.
The loan agreement falls under an Extended Fund Facility (EFF) program, which allows for interest payments to be made in a span of ten years, with an extension period of four years and six months.
Although the specific loan amount is not mentioned in the decree, the government highlighted its intention to strengthen international reserves by allowing the Central Bank of the Argentine Republic (BCRA) to pay off its obligations related to treasury bills.
Furthermore, the decree underscores the necessity to "to reverse the situation of the international reserves" by eliminating government bonds that cannot be transferred.
The President's Office revealed that the decree, issued in the Government Gazette, is going to be presented for endorsement to the National Congress.
The loan agreement falls under an Extended Fund Facility (EFF) program, which allows for interest payments to be made in a span of ten years, with an extension period of four years and six months.
Although the specific loan amount is not mentioned in the decree, the government highlighted its intention to strengthen international reserves by allowing the Central Bank of the Argentine Republic (BCRA) to pay off its obligations related to treasury bills.
Furthermore, the decree underscores the necessity to "to reverse the situation of the international reserves" by eliminating government bonds that cannot be transferred.
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