The International Monetary Fund (IMF) reported that it has reached a technical…

The International Monetary Fund (IMF) reported that it has reached a technical agreement with the Argentine government for USD 20 billion, which is expected to be submitted to the IMF board of directors for a vote by friday.

The program will last four years, the organization highlighted the “initial progress” of the Argentine Executive Branch’s economic plan and mentioned the need for a new phase that includes reforms and the consolidation of stability.

“IMF staff and the Argentine authorities have reached a staff-level agreement on a comprehensive economic program that could be supported by a 48-month arrangement under the Extended Fund Facility (EFF) for a total of USD 20 billion, subject to the approval of the IMF Executive Board,” the statement said.

Finally, these are long awaited excellent news for the Argentine economy.

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