IMF says independent central bank is key to Argentine recovery

Argentine authorities agree to limit forex market interventions

Christine Lagarde

The executive board of the International Monetary Fund approved its three-year standby arrangement for Argentina on June 20. The IMF stressed that an independent central bank and a flexible exchange rate will be key factors for the programme to succeed.

The standby arrangement amounts to 35.379 billion in special drawing rights, or approximately $50 billion. With immediate effect, the fund transferred $15 billion to Argentina’s Treasury, of which $7.5 billion will be used to finance the

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