IMF agrees to loan up to $50bn for Argentina

The International Monetary Fund has agreed to lend Argentina up to 50 billion dollars as the country seeks to bolster its struggling economy.

The three-year agreement must still be approved by the IMF board.  Argentina, which has been plagued by economic problems for years, asked for assistance from the IMF on 8th oh last month after its currency hit an all-time low.

The country has committed to tackle its double digit inflation and public spending as part of the deal.

SOURCE: BBC
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