© Reuters. FILE PHOTO: The Worldwide Financial Fund (IMF) brand is seen exterior the headquarters constructing in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas//File Picture
(corrects from Latin America to South America in paragraph 3)
By Jorgelina do Rosario
BUENOS AIRES (Reuters) -Argentina is ready to obtain financing from the Growth Financial institution of Latin America and the Caribbean (CAF) to make a $913 million fee because of the Worldwide Financial Fund (IMF) subsequent week, two sources accustomed to the matter informed Reuters.
Argentina, whose $44 billion IMF programme makes it the biggest debtor to the fund, is because of make the capital fee on Dec. 21.
South America’s second largest economic system suffers from deeply unfavourable reserves and needed to make use of loans from CAF in addition to Qatar, and a swapline with China’s central financial institution to make current funds to the fund on time.
A spokesperson for President Javier Milei and for CAF didn’t instantly reply to a request for remark.
New Economic system Minister Luis Caputo met with CAF’s Government President Sergio Diaz-Granados on Monday, in accordance with one supply.
All financing by CAF will must be signed off by the board of the lender.
Caputo mentioned in an interview televised on Wednesday night that the federal government would make the fee to the IMF, however didn’t element how the fee can be made.
On Tuesday, Caputo introduced a slate of financial measures together with a greater than 50% devaluation of the peso to 800 per U.S. greenback and vitality and transportation subsidy cuts.
