GENERICO.ruEconomicsArgentina pays IMF debt in yuan

Argentina pays IMF debt in yuan

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BUENOS AIRES, Jul 1 Argentina has paid back its debt to the IMF in yuan amid problems with international reserves, writes the newspaper La Nación.
“The government made a $2.7 billion payment today using yuan and special drawing rights,” the article says.
An Argentinean delegation is expected to travel to the United States next week to continue negotiations.

In June 2018, the IMF approved a $50 billion loan to Argentina. This was supposed to help reduce the budget deficit against the backdrop of soaring inflation. In October of that year, the fund agreed to increase the funding program to $56.3 billion. But in 2021, the amount was reduced to 44 billion.

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